Over the last couple of weeks we have seen a great run, but how long can it last with at least any hiccups? I was tracking the move of the 3 major indices and noticed something interesting.
S&P 500
Almost hit the 62% retracement exactly. What I would like to see would be a bounce off the 50% (about 800). That would seems bullish to me.
Nasdaq
Made up some great ground, but seems to have hit resistance. A breach over that blue line will mean good things.
Dow
Probably the bullish of the 3, but the market looks to broaden out and perhaps test new supports.
Also check out these 2 videos that look at the movement of the S&P 500 and Crude Oil:
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