SPX: The index showed it’s strength when it filled the May 23 gap-down 1333.06 during the intraday transaction and closed just above the mini rising channel (violet lines).
World market: Asian and Europe markets are strong bouncing with gains more than 1% supported by news: “EU Racing to Draft Second Greek Bailout”
The EUR/USD pair is trying to break up the MA50 in daily chart, that if happens will vigorously support the US stock market.
With all these bullish sentiment I inclined to the possibility that there would be no market pull back before the SPX can visit 1342.15 (Fibonacci 23.6%) in next 2-3 days.
May 31, 2011: SPX may visit 1342.15 before any possible pull back.
EUR-USD May31 2011 trying to break up the MA50 dayly chart
stockmarketwinner 