Rally Back Or Ready For Another Smack?

The market indices rallied off of the lows to end the sell-off. Is this a bearish reset, or do the bulls have any legs left to carry the market higher?

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The major market indices rallied strongly off of the lows to end the sell-off - for now. What's next? Is this just a bearish reset, or do the bulls have any legs left to carry the market higher? A look at today's unusual option activity gives some indication of how the bulls and bears are positioning themselves.

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