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Tuesday, January 29, 2019

Why JP Morgan Thinks the US Stock Market is Set to Face a Reckoning

By: Wes Messamore

JP Morgan chart analyst and technical market strategist Jason Hunter says the S&P 500 is not out of the woods yet after bouncing back this month from massive losses in the worst December since the Great Depression.

S&P 500 Climbing toward Resistance

The January rally in U.S. stock prices pushed the benchmark up more than 12 points over its Christmas Eve low, rebounding more than 5 percent in the first month of 2019.

But that doesn’t necessarily mean stocks are headed into a bull market as the S&P 500 approaches a key resistance line at 2,711.

Read more at CCN.