Sideways 2014 Mode
The market is back to neutral and in other words remains in “sideways 2014” mode. The oversold conditions from Thursday were erased and SPY has ConnorsRSI in the 50’s range today.
Ideally the rally on Friday will continue to follow-through as all pullbacks have for the past two years. Eventually this will come to an end but with the way the central banks in the world have been pumping in money, the end could be in the distant future.