S&P 500 Rally Pauses at Key Resistance: Fed Minutes, Key Data in Focus

Market Overview Analysis by Michael Kramer covering: S&P 500, iShares Core S&P 500 ETF, SPDR® S&P 500, Apple Inc. Read Michael Kramer's latest article on Investing.com

finished about 50 bps today higher but had been up more than 1% at one point—stocks turnaround after 1 p.m. ET, following a weak

Yesterday's rally drew the index to around a 38.2% retracement of the decline since July 27. Additionally, the candle from today’s make a nice reversal candle. If the index gaps up tomorrow and takes out the highs at 4,386, we probably rally to 4,400 in the days ahead.) appears to have put in a reversal candle when it traded higher to $179.72, which took out the highs of September 19, 20, and October 9 and then managed to close under all of those highs.

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