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Dr_Roboto

S&P bounce off channel support - Will it hold?

iShares Core S&P 500 ETF (AMEX:IVV)  
Dr_Roboto Updated   
AMEX:IVV   iShares Core S&P 500 ETF
Trend Analysis Chart Patterns Wave Analysis SPDR S&P 500 ETF (SPY) IVV SPX (S&P 500 Index) DJI NASDAQ 100 CFD
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The S&P bounced off the channel support today. It also tested the 1.236 fib extension off the most recent peak. Both signs that a bounce was coming. There is also a gap that looks like it could be filled. In addition, this would be a good place for a test of the 20 day moving average by end of week if not early next week. Real question is will this hold or will we see another leg down. I would be more optimistic if we did not make a lower low yesterday.
Comment:
Retest on Thursday
snapshot

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