The S & P 500 encountered a Fibo expansion of 161% and it stopped at the end of February. After a slight decline in the rally in the past two weeks, the lower limit of 161% was tested. This resistance / kiss resistance test, occurs as a “weak” seasonal season, historically begins next week.
Weakening will not be good for a broad market, especially at this time of year. Watch the level of 161%! What he does here can be very important for building a portfolio for the next few weeks and months.