The Fed pumped in a ton of liquidity that is supporting the market's up movement. Sometime
next week, the S&P 500 (and the other indexes) will meet resistance when
they close their gaps as seen on the chart below.
The VIX (Volatility Index) is below the S&P's price chart. It actually
closed it gap yesterday, so this is important. If the VIX moves below yesterday's
low, then that would be favorable for the S&P to move up above its gap
and move higher. If the VIX can't move below yesterday's low, then the
S&P will be subject to failing after doing a 100% retracement to February
26th.'s close on the S&P.
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Marty Chenard is an Advanced Stock Market Technical Analyst that has developed
his own proprietary analytical tools and stock market models. As a result,
he was out of the market two weeks before the 1987 Crash in the most recent
Bear Market he faxed his Members in March 2000 telling them all to SELL. He
is an advanced technical analyst and not an investment advisor, nor a securities
broker.
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