Dear readers, S&P500 closed higher for the 2^nd week. It is around an important inflexion point around 1,950 (to be exact approximately 1,946 – 1,954) where a sustained break above it indicates a likely bullish double bottom formation. STI is also flirting around an important potential double bottom neckline approximately 2,645. It seems like markets are turning bullish finally a poor start of the year. Or are they?? Read on to find out more on their technical outlooks… S&P500 Index Just to recap what I have mentioned on 12 Feb 2016 (read here), I wrote “As the overall trend continues to be bearish, any rebound is likely to meet with strong resistances at 1,893 – 1,900 and 1,940 – 1,946. Based on the current chart interpretation, the bearish outlook of the chart is negated with a sustained close above 1,950.” –> The region around 1,940 – ......