the S&P could move up and test resistance near 1100 after recent pullback found support near 61.8% Fibonacci retracement.
Articles tagged with: Wall Street
trading pattern on the S&P 500 index suggests strongly that short-term condition is ripe for some short of pullback consolidations. However, as long as the S&P holds above the February trend channel, the upcoming correction could be just another blip in the multi-month rally, which will offer a much more attractive buying opportunity.
given that stocks have risen for nine months without a 10% correction, Tuesday sell off had got some people nervous. However, unless the bears manage to take out support around the 1115 level on the S&P 500 index and the VIX surges above its 200-day moving average, this decline is merely a temporary setback or another blip in the multi-month rally.



