Published May 9, 2025
As expected, the furious recovery in stock prices has stalled, for now, at the clear point of resistance shown below. We spoke of this resistance coming into play a couple of weeks ago as well. Bulls have been able to push past the 550-560 level. The question is whether the bulls have enough thrust to push stocks back above the 5700 level for the S&P 500 (570 on the chart), which is where the widely-followed 200-day/40-week moving average sits. (more…)