V-Shape recovery in the SP500

V-Shape recovery in the SP500

Key Support: 4310
Key Resistance: 4335 – 4380

After dropping 3.27% at the beginning of the week the SP500 has recover almost all of those losses and now it’s setting up for more bullish momentum to all time highs.

Our opportunity comes on a break of today’s highs with a 75 tick ADR on a 26 tick range today.

A break of today’s highs would bring in more buyers and a retest of last week’s highs (all time highs) would be very plausible.

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Author : Orlando Gutierrez

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