Panic and bounce, what's next?

Mid-week market update: How far can the market rally run? The S&P 500 weakened in January and bottomed last week. It has mounted a strong relief rally, but it is testomg a key Fibonacci retracement level at about 4590 and a resistance zone at 4600-4630.

Is this the start of a V-shaped market recovery, or will the market weaken to retest the old lows?

The full post can be found here.