TSP Talk Blog

Stocks took Thursday's bearish negative reversal day - and on some charts a negative outside reversal day - even more bearish, and completely ignored that setup and rallied strongly to close at a multi-month high on Friday. The Dow gained an impressive 424-points, and the S&P 500 is now down less than 10%, which means it has cut its worst 2022 losses in half. The question is, will a 50% retracement of the losses pose any threat to the rally being a common Fibonacci retracement level? The ...