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