Dear readers,
With reference to my write-up on 11 Mar 2016 (see here), S&P500 has been pretty stable lately without a swing of 1% for the past two weeks. Similarly, our Asian markets have been trading within tight ranges. What’s next for our markets?
Read on to find out more.
S&P500 Index
Just to recap what I have mentioned on 11 Mar 2016 (see here), I wrote “S&P500 is likely to take a breather and trade within the range of 1,950 – 2,044 in the next two weeks, after forming a bullish double bottom formation with an eventual measured technical target of around 2,080.”
–> S&P500 continued to climb from 2,022 on 11 Mar 2016 to touch an intraday high of 2,057 on 22 Mar 2016, before profit taking sets in and S&P500 closed at 2,036 on 24 Mar 2016.
Based on Chart 1 below, S&P500 recent ......