Lind Plus Senior Market Strategist Jeff Friedman sees resistance in June S&P at 866-870, and cautions that we could see a possible 5% correction at any time after the market’s 30% rally from its lows.
He said he thinks the market is overbought, but for now,”don’t fight the tape.” Listen to Jeff’s daily podcast.
Stock index futures are choppy in early trade and currently down slightly, digesting the latest round of earnings. Citigroup and General Electric both beat analyst expectations for their first-quarter results. The Reuters/University of Michigan preliminary index of consumer sentiment rose to 61.9 from 57.3 in March, but failed to rouse the market.
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