U.S. Markets opened this morning at the critical support level identified in the early morning chart posted here.
That level held and the market put in an intra-day recovery rally. Is this the beginning of the short term “bounce” ? Too soon to say as today’s close on the S&P 500 E-mini futures closed right up against a short term trend line resistance level.
We will need to see a move (with supporting volume) above the trend line shown in the chart below in order to build confidence that the market is attempting a short term rally. However, the problem here is that while a short term rally might be in the making,
