Correction is finished, as further upside to 2,031 looms - RBS

FXStreet (Łódź) - The RBS team of analysts observe that S&P 500 ended correction and closed above the 1,918 gap (futures level), as the overall picture remains bullish, after breaking above a key resistance level of 1,900.

Key quotes

"That is the major 161.8% Fibonacci projection from the 2012-2013 impulse wave, which made a
strong bullish statement that the index will have steam to reach the 2,030 major projected target."

"What would change this view is if the price breaks below 1,860 on a sustained basis."