Trade Alert
The S&P 500 seems to feel strong about making a move towards the March highs at around the 2800 area. If that area is not able to withhold the rate from rising, then we could see another attempt to push towards the January highs at around 2875.
Certainly, a strong reversal back down and a close below the 2742 mark, could raise some concerns again about the potential upside scenario. The index could then be driven by the bears towards the recent lowers levels. One of them is the strong support at 2700 level.
Don't forget to place your SL.
The S&P 500 seems to feel strong about making a move towards the March highs at around the 2800 area. If that area is not able to withhold the rate from rising, then we could see another attempt to push towards the January highs at around 2875.
Certainly, a strong reversal back down and a close below the 2742 mark, could raise some concerns again about the potential upside scenario. The index could then be driven by the bears towards the recent lowers levels. One of them is the strong support at 2700 level.
Don't forget to place your SL.