Wall Street recovers from Friday dip

2:41 PM May 3, 2021

Once again a small correction attempt was quickly used for dip-buying on Wall Street as a lack of immediate risks proves to be enough to prop indices higher.

Solid economic data from around the globe and a hope that FOMC speakers will continue dismiss inflation risks helped stocks higher, especially for smaller stocks (US2000) that tanked a bit on Friday.

Looking at the US500 on the H1 interval stocks are still well supported. The key short term support is laid by the zone just above 4160 points. As long as it hold, bulls may attempt and attack at the highs.

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