SPX is still the a raising wedge pattern. Technical indicators shows clearly that we are at an overbought level. Therefore the index may face a technical correction ,and may be a short term reversal as well.
Anyway, many attempts to break over 1925 but none of them were successfull and powerfull enough to install SPX above that level.
On a purely macro economic terms, bare in mind the end of QE3 from FED and the tappering program, the possible increase of interest rate from FED based on inflation risk.
Anyway, many attempts to break over 1925 but none of them were successfull and powerfull enough to install SPX above that level.
On a purely macro economic terms, bare in mind the end of QE3 from FED and the tappering program, the possible increase of interest rate from FED based on inflation risk.