What a great run from the bottom with many missing it or losing even more on the ride back up denying its possible with current economic conditions. We are now at the point imo where you need to be careful on the long side as we approach the 200 ma's and .618 fib level. For me 2650 is what really opens the gates for bears to take a shot at the lows again. For bulls I would like to see a close above the .618 and above the 200 day simple moving avg. Vix is also showing some resistance at the 30 level with a falling wedge pattern. Bulls will need vix below 30 to get more juice going.
Comment:
held on fib level followed by some consolidation. Now getting back above all major moving averages (50/200ma). Bulls still in complete control with the Russel leading showing more risk on environment.