By Lawrence G. McMillan, MarketWatch
After registering some extremely overbought conditions, the broad stock market pulled back slightly over the past week.
So far, it has been a mere three-day correction — very similar in some ways to the 2-day correction that occurred on Nov. 20-21. But the bigger picture is that the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.72% chart is still rising and support held at 3070. There had previously been a support area at 3065-3070, so that has been reinforced with the pullback to 3070 this week. Below there, the next support level is at 3025-3030 — the area of the old highs from last July and September 2019.