Stocks rebounded sharply last week following the biggest pullback we’ve seen in quite a while, showing the bears that a downside shift of direction isn’t going to be an easy task to produce. The bulls have been paid to buy every dip since November, and they aren’t ready just yet to relinquish control of the trend.
Nonetheless, we have one thing in place across each of the averages which simply cannot be overlooked.
As we head into a new week of trading, it’s time once again to take a look at the indexes and the key levels they’re dealing with. This will impact how individual names move, so it’s where every new trading week begins.
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Jeff White
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