Andy Dodd, Head of Technical Research at Louis Capital Markets, would be surprised to see the current S&P 500 rally break through 2120 without some sort of short-term pullback.
However, Dodd says that with the bullish candle from last month providing support at around the 2000 level, any such pullbacks may provide a good buying opportunity for a push above 2120 at a later date.
Read full report, including an analysis of the following futures markets:
Dow Jones 30
Dow Jones Transportation Index
Shanghai Stock Exchange Composite Index
EURO STOXX 50