Following Monday’s decisive trouncing, buyers have spent subsequent sessions attempting to muster demand for the start of a snapback rally. Smashed support (1775-1800, basis the S&P 500) now stands as resistance. We shall see if the bounce proves to be buyers just challenging sellers with a bit of argy-bargy or if they can mount a proper fight back. The overall picture points to a rally likely to be short-lived.
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