3 min readS&P 500 (SDX):
The S&P 500 has enjoyed an impressive rally following the announcement of Trump’s election as the new president of the United States. It’s currently trading just below $6,000, marking yet another all-time high for the index.
A closer look at the technicals shows that if a pullback begins, a simple tool like the Fibonacci tool can help identify key areas of interest within a “rebalanced” or “discounted” zone. In this scenario, I would be particularly interested in how the price reacts around the $5,800 level.
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