As previously posted the S&P 500 broke out of it's trading range and pushed up over the past few weeks. We were due a well earned breather which we have no got. I have seen many posts now calling for a retest of the March lows, which in my opinion is madness. We WILL NOT retest the March lows.
We are approaching the top of the channel which will act as a key level of support, a bounce off the top of the channel would be significant, however, my opinion is that we fall back into the channel this week and then trade within the range for a while now.
I personally don't see any logic in some posts on here calling for a retest of the March lows.
We are approaching the top of the channel which will act as a key level of support, a bounce off the top of the channel would be significant, however, my opinion is that we fall back into the channel this week and then trade within the range for a while now.
I personally don't see any logic in some posts on here calling for a retest of the March lows.