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The stock market's rally was a head fake and the smart money now is with the bears

Por: MarketWatch Business February 24, 2023

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So, now there is resistance at 4200 (the early February highs), and while there might be some small support levels just below current levels, the major support is at 3900, and then 3760-3850. If SPX falls below 3760 (the December low) that would be an extremely negative development. The McMillan Volatility Band (MVB) sell signal that was issued in early February remains in place. Its target is the -4σ “modified Bollinger Band” which is... + full article



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