Off The Mat

The market is still weak here, and prone to newsy drops and spikes, but seems to be holding support levels. The indexes are holding in their recent range well, and could go either way.

S&P 500, hourly bars

S&P 500, hourly bars

This chart to me shows a market that remains vulnerable, but is making a concerted effort to get off the mat and make a run at 1960, and possibly higher. A breakdown below 1885 would squash that thesis, and open up the possibility of new lows. Care still warranted with positioning here; we remain in limbo.

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