Stocks pulling back at key resistance levels.
Where do you think the immediate weakness bottoms? I think if we break 4694, we should heading down lower may be 100-200 points before, the bull run resumes, thoughts?
If you look at the chart since the peak in 2021, you can see the 4600 level was tested a couple times before moving above that level last month.
Ideally that would hold as support if the pullback continues, with the 50-day MA also moving toward that level.
Thanks for this.
Where do you think the immediate weakness bottoms? I think if we break 4694, we should heading down lower may be 100-200 points before, the bull run resumes, thoughts?
If you look at the chart since the peak in 2021, you can see the 4600 level was tested a couple times before moving above that level last month.
Ideally that would hold as support if the pullback continues, with the 50-day MA also moving toward that level.
Thanks for this.