Stocks Are Magically Bouncing Back

  • Summary:



    MACRO: SPDR S&P 500 (NYSE:)

    US MARKETS +13.50 points 1.75% 15.10 97.66 $57.10INTERNATIONAL MARKETS -1.05% -1.25% -0.23%SK -0.73% +1.16% +0.06%


    Germany’s market bounced back Tuesday, rising by over 1% after their came in 51.7 versus estimates 51.3, and last month’s reading of 51.6. But more importantly, the U.S. markets bounced back Wednesday morning. The found meaningful support on Tuesday around 3,080 and appears ready to test resistance at 3,110. Hmm.. sounds familiar? The S&P 500 fell to exactly where it was supposed to fall today, as I noted last night, before the “trade fears” took the market by storm, to 3,080. That region held firm and bounced. Now there is a gap to fill up to 3,110 tomorrow.

    Oh yeah, I said that Tuesday night, befo ...



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