Notwithstanding the spike down after Washington Post's breaking news on Mueller threatening to subpoena Trump, it does appear as if bulls saved a possible rout with a concerted bout of buying that prevented another test of the SPX 200ma.level.
That resulted in a strong rally that sent SPX above the key 2650 level and on the way to the next resistance level at 2680.
The markets face a growling list of problems, see article below, and it can resume the decline anytime, but for now, the bulls have a great opportunity to rally until the markets get spooked again with a dose of reality: Goldilocks has left the building & this is not the 2017 stock market.
The Big Squeeze: New Risks For Fed Interest Rates, Recession And Yield Curve
Goldilocks has left the building. For proof, just look at interest rates. The 10-year Treasury yield eclipsed 3% last week for the first time in four years, hitting the S&P 500, Dow Jones and Nasdaq. Clearly, the not-too-hot/not- too-cold economy that supported the nine-year bull market for stocks has fundamentally changed
https://www.investor...interest-rates/
Edited by dTraderB, 01 May 2018 - 09:14 PM.