A sharp pullback to start last week left the indexes testing some important levels and filling some gaps, both of which proved to be technically beneficial for the market. Dip-buyers emerged to stem the losses though, erasing a fair chunk of the deficit from last Monday and Tuesday.
More progress will need to be made for the bulls to regain their October momentum, but overall the price action is constructive and this pullback – if kept shallow – could still result in a higher low on the daily charts of the indexes.
As we head into a brand new week of trading, let’s examine some important levels to keep an eye on in the days ahead. That will have the greatest influence on how individual stocks are going to move, so it’s where the trading week begins.
Jeff White
Producer of The Bandit Broadcast
Follow TheStockBandit on Twitter or get our free newsletter to keep up!
