Reversal
S&Ps have seen a good reversal from earlier lows with a 920 high print, compared with an opening range at 908-906.50. However, as outlined in the Morning Meeting, we have critical resistance between 920 and 923.50. The S&Ps would have to sustain trade above this area to reverse the bearish bias of the past three trading sessions.
An impressive rally off the lows in the Nasdaq, which is grinding higher toward 968. The Tech rally has been consistent and broad, adding strength to this move.
For more information on the Morning Meeting, please see: