S&P 500 Rebound From October Low Is Now Locked In, Fairlead Says
- Concerns if no ‘meaningful’ S&P 500 November, December rally
- Nasdaq 100 still in corrective phase, uptrend may be extended
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The S&P 500 Index won’t have a “big” dip below the bottom seen in October and should extend gains in the short term, according to technical analysis research firm Fairlead Strategies.
The U.S. equity benchmark is forming an “inverse head and shoulders” pattern, a bullish signal, based on a daily bar chart of the gauge, Fairlead founder Katie Stockton told Bloomberg TV.