Thanks to across-the-board revisions in faulty government jobs data, the stock market had one of its biggest rises of 2023 today. Stock market bears had been enjoying a very brief respite for a portion of August, but in recent days the bulls seem to have run roughshod over them all over again.
All hope is not lost. In the four major index charts below, all we have been doing is retracing back to major resistance. In the instance of the first and last charts, that resistance is in the form of a major Fibonacci level. For the second and third charts, the resistance is a price gap between August 1st and 2nd. Let’s see if these resistance levels hold true!
