After hitting a high of 240.32, the S&P 500 has pulled back some. What’s next for this market? I can with confidence say; I am not sure because like I blogged about several months ago, the markets are uncertain. Get accustomed to that!
However, if I am to use my charts as a guide, I would say we hit our first level of support today at the 235 levels.
For me to remain confident in this bull market; I would like to see another pullback to the 232-233 area.
If it dips to 228 and consolidates in this area for several weeks/months; I would begin calling the market a raging bull. And will begin to go all-in!
Those are my levels.
Tina Lashley holds a Bachelor of Arts in Forensic Psychology and a Master's of Science in Mental Health Counseling and has been a stock market participant for over a decade. Currently a Full-Time Trader and Blogger of all things financial.