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Time to Book Profits as Market Rebound Could Face Headwinds

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Stocks Analysis by Jani Ziedins covering: S&P 500, iShares Core S&P 500 ETF, SPDR® S&P 500, S&P 500 Futures. Read Jani Ziedins's latest article on Investing.com

While this still has a long way to go before getting back even half of the previous eight sessions of losses, three days of gains is a good start.

So, it was actually refreshing to see the market maintain its composure this time. A calm market is a bullish market. The index broke through 4,200 support/resistance and now rests just under the 200dma. It wouldn’t surprise me to see this rebound run into some headwinds.

 

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