The SPX has climbed from an April 7th low of 4835 to 5528. That is some 693pts (14.3%) across just fourteen trading days.
On any basis… its been one dramatic April. Mr Market has managed to washout a great many of the m/t bulls, whilst then also washing out most of the s/t bears. Its been normal service… in some ways.
Now its merely a case of whether we stall from within the 5700/800s, and eventually break <4835, or we continue to recover upward, and break a new hist’ high (>6147) this summer
My guess… remains the former. That view would be dropped on any sustained price action >5850, which would be decisively back above the monthly 10MA and the daily 200MA.
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