“Yesterday the S&P 500 broke above the neckline of the double-bottom pattern. Today, trading is holding that break with a pause for breath,” said Tarquin Coe, technical analyst at Investors Intelligence. “That bottom should easily propel the index back up to the 1420 region, given the relaxed momentum condition. The MACD itself will print a buy signal today, its first in five weeks.”
The S&P 500 was trading just north of the key 1,400 level in the final half-hour of U.S. trading Friday.
S&P 500
iPath S&P VIX Short-Term Futures ETN
