S&P 500 IndexUpdated Nice come back from oversold
Fib retracement and heading into resistance of 2761. If bulls can push past that, don't stand in their way. If we see a pullback here, don't be surprised. Inverted hammer might be an indication? Many technicals confirm the short term bull but RSI and CCI have gone flat. Since Monday is closed, Asian and European markets might continue to run providing the momentum for the bulls here to continue. Too close to call long or short. Sidelines is still the safest.
Note
Higher highs, higher lows is good. We still need to break 2761 to be comfortable on the bullish side. Started to comment on GLD and that might be telling in the coming month.
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