S&P 500 recovers 61.8% of the rout

Technical Analysis

Author: Adam Button | stocks

Big technical level cleared

The part is definitely back on in the stock market as the S&P 500 rises 22 points to 2753.

The gain clears the 61.8% Fibonacci retracement level of the decline and points to a complete reversal.

The S&P 500 has risen every day this week and is up 5.1% with a few hours of trading remaining ahead of the long weekend.

Bitcoin a Bubble? Five insights from the ASAC Fund