A nice gap and run on “less worse than expected” economic reports has us up to SPY $129.50 resistance at the falling ten-day. Normally, I’d expect that to crack on such strong internals, but will keep an eye on the VIX just in case. As “Mr. Ice” pointed out this morning, the PM sells have been the bane of the bulls — of course if we can break that behavioral tendency this bounce may yet gain some traction. My upside target would be $131 if we can.
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