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S&P 500: Poised For Pullback But Still Bullish.
- Marc Principato
- January 16, 2024
S&P 500: Poised For Pullback But Still Bullish. S&P 500 (SPXUSD Chart) on the daily time frame shows weakness off a notable resistance (4800). Price can retrace back to 4725 or as low as 4650 and STILL remain in a broader BULLISH trend. This is particularly important for Trade Scanner stock signals. Long signals for stocks should be considered LOW probability until the bullish momentum on the S&P continues. Keep in mind IF 4650 support breaks, a change in trend structure may be in play. Watch the 4650 and 4725 levels for a bullish reversal patterns.