S&P reaches the 50% retracement target (well almost)

Technical Analysis

Author: Greg Michalowski | sp

2702.78 is the retracement level

The S&P index has reached a high of 2701.86. That is just shy of the 50% retracement of the move down from the January 2018 high at 2702.78. 

The index is back down at 2697 currently. 

The 50% is a key barometer for bulls and bears.  A move above would be another step in the upward direction. Staying below would keep the bearish potential alive.


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