The sell-off didn't last and got broken with a big green candle, pushing the S&P 500 above the 50 DMA again, resuiming the uptrend/bull-market. Today there is a little digestion/side-ways movement that actually looks quite healthy for the market. So, the big question is - what now? Will we resume the run and reach new highs?
The energy and speed that the market snapped off the bottom of the sell-off tell me that unless we get bad news in the short term, we are likely to see new highs soon. The bears simply couldn't hold the market down for more than a week. That's a bad sign if you are short this market. I think more green is ahead.
The energy and speed that the market snapped off the bottom of the sell-off tell me that unless we get bad news in the short term, we are likely to see new highs soon. The bears simply couldn't hold the market down for more than a week. That's a bad sign if you are short this market. I think more green is ahead.