At the surface of the market the $S&P 500(.SPX)$ , $NASDAQ(.IXIC)$ and $DJIA(.DJI)$ all rallied > 1% meanwhile breadth remains nothing short of horrible.
Many more stocks made new lows today. Rallies like today are not the type to get me excited.
My speculation remains that the 3950-4100 range will build out a correction base. The larger surprise from weekend thread is the volume of comments pointing towards 3950 not being “low enough”.
The lower boundary of the range is an additional 5% — plenty of room for fear to lose participants.
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Macro Trend
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