The S&P 500 continues to struggle at a 50% retracement level (blue line and red arrows) from the 1999 highs to the recent lows. This also coincides with resistance levels that we highlighted.

S&P 500 Index Fibonacci Retracement
spx_fibonacci.bmp
Source: Technimentals

Given the robust sentiment out there it is likely to turn our to be a tough area to work above. Additionally, after May seasonality turns neutral to bearish.

Random Items:
Fed Officials Should Get Out and Shop
India is the next China
Cyberspace warriors
Poll: Balanced Budget Beats Tax Cuts
World Knowledge Competitiveness Index 2004
IBM, Napster Take Server Approach To Music Downloading

Quote of the Day:
“Good judgment comes from experience . . . Experience comes from bad judgment.”
- Barry LePatner

Category: Finance

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

Comments are closed.