Retracement Levels On The S&P 500 and Russell 2000 Looking Strong

by Geoff Garbacz | 04/19/2016 02:31 PM

This afternoon we are going to take a look at the current retracement levels on the S&P 500 and the Russell 2000. This let's us see how much more upside could be ahead for stocks.

We were looking at the December High to the February Low for both indexes. The retracement levels have been recaptured on the 38.2%, 50% and 61.8% levels. All that remains is moving above the 100%, effectively the December high. This is good news. A break back below the 61.80% levels on these two indexes would make us defensive again. Until then, let the good times roll and the bears stay miserable.