Daily Report : The S&P 500's V-shaped bottom and 50% retracement
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The S&P 500's V-shaped bottom and 50% retracement: The S&P 500 fell hard into the April low, then recovered just as hard. That has raised the potential of a V-shaped bottom, and historically similar behavior tended to bear that out. It also recovered over 50% of its decline in fewer than 18 sessions. Similar quick and sharp retracements tended to see sustained rallies. |
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The S&P 500's V-shaped bottom and 50% retracementBy Jason GoepfertBOTTOM LINEThe S&P 500 fell hard into the April low, then recovered just as hard. That has raised the potential of a V-shaped bottom, and historically similar behavior tended to bear that out. It also recovered over 50% of its decline in fewer than 18 sessions. Similar quick and sharp retracements tended to see sustained rallies. FORECAST / TIMEFRAME |
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