Last Friday, Frank Cappelleri, CMT, was featured on CNBC discussing the S&P 500’s relationship with a potential support level of 2800, as illustrated by the chart above.
“As we saw last summer, once 2,800 was officially overtaken, it became support,” Cappelleri said. “And that support helped propel the market to new highs.”
He was also featured in a MarketWatch article in mid-February, noting that the Russell 2000 index of small-capitalization stocks has been outperforming three other main stock-market benchmarks since last December.
Read his CNBC commentary here: Stocks need to break through this next big market level to convince traders this comeback is real; find the MarketWatch article here: Why a stock-market rally has taken hold on Wall Street in February.