In One Chart
AP
The ingredients are in place for an explosive U.S. stock-market rally, but recent price action leaves room for doubt about whether the bears have been vanquished, a closely followed Wall Street technical analyst argued Thursday.
The S&P 500 index SPX is headed toward a pair of important resistance levels on the price chart as it rallies off its March 13 intraday low at 3,809, said Mark Arbeter, president of Arbeter Investments LLC, in a note. A stumble by the large-cap benchmark that began in February had put it on track for…
