The S&P 500 is up for the third day and has made good a big chunk of its losses from Monday. As we reported the possibility on Tuesday, the index has now retraced to the point of origin of the breakdown around 2910/15 area. Will it start heading lower from here or regain its poise and shoot higher? Traders should monitor today’s price action closely. The equivalent level on the S&P 500 futures is at 2915, which was being tested as we went to press.
Source: eSignal and City Index. Please note this product may not be available to trade in all regions.