As I stated in my last observation, the "bottom" held and the S&P e-mini's began to move up reaching a .236 retracement at 5639. Considering the damage from the last few weeks, it was a welcome and much needed recovery. Looking forward, I expect a continuation of the market to chop higher heading to the next important level of 5709, or a .382 retracement. There was so much damage to so many stocks that it would be hard to expect much more than this, but given the highly emotional way people sold into this down move, there should be an equally emotional move higher as FOMO kicks in and investors reluctantly buying many of the same companies they
recently sold: wash sale rules be damned.
recently sold: wash sale rules be damned.
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