S&P 500 still in a rally
- S&P 500 has been in an uptrend breaking new records high after high.
- The Fed mentioned late last month that the central bank could begin reducing its monthly bond purchase this year, which signifies a potential market correction. However, the current weak labor market recovery could signify that tapering would happen only around the end of the year.
- Looking at technical, the S & P 500 continues to be trading in an uptrend channel.
- Bulls could look to buy at the next dip, with appropriate entry and stop loss level.
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