Rebound Coming
S&P 500 recovered from the rug pull, yet was mid-session back to where it started from, with sellers rather dominating at the close. With tech (AI infrastructure and software) and communications losing altitude into the close, S&P 500 can‘t recover, and odd of these kicking in during EST afternoon for 6,800 and higher values, weren‘t fulfilled – we‘re though approaching the awaited bounce.
Yesterday featured 6,788 – 6,800 zone is what‘s capturing already four candles on the 4hr time frame. Thus far though, breadth and oscillators aren‘t sufficiently improving, and yesterday‘s premium remarks about lack of leadership in critical sectors, hold true.
Yields aren‘t retreating nowhere enough (fitting genuine panic episodes), and volatility metrics show hesitation in buying more protection (VIX having trouble pushing higher), in another sign of some bounce approaching.
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