S&P 500: Buy Until The Music Stops. Week Starting 3rd February (Technical Analysis)
Summary
- The S&P 500 followed a predictable pattern last week.
- Friday's sell off damaged the bullish look, but January still registered as a bullish month.
- A reversal could develop in February. Recognizing how and where the bias shifts allows us to define our risk and continue to buy as long as the trade makes sense.
- Next week's focus is on Alphabet's earnings and NFP data, and a potential early-week low near 6000 could set up a later rally.
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