The picture shows junk bondsETFAnd the trend of the S&P 500 index in the past few months. Both have rebounded since the December low and are currently testing the resonance resistance of the Fibonacci retracement and resistance lines.
AnalystKimble pointed out that the performance of the price at the current resistance level determines whether the S&P 500 has the momentum to test last year's high.
If both succeed in breaking the resistance, it will be a positive signal for the short-term US stocks; if the two are blocked and form a reversal pattern, the US stocks need to be vigilant.
(Article source: Chart home)