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S&P 500 Breaks Range Top
The S&P 500 took out the top of the range that contained prices for the past two weeks while the US Dollar slipped below support in place from late March. S&P 500 – Prices took out resistance at 1391.10-20 marked by the recent range top and the 50% Fibonacci retracement level. Bulls are now testing the 61.8% level at 1399.10, with a break above exposing the April 2 closing high at 1416.10. The 1391.10-20 area has been recast as near-term support. Prices are showing a Shooting Star candlestick below resistance at 104.90, a former support level reinforced by the top of a falling channel set from early March. The ... (full story)
