Nice rally on strong buy-volume.
But with the S&P 500 moving just 2% it’s not the 3% to 4% move we’re looking for.
Add in the resistance of the 50-day Moving Average, which the S&P is parked just under, it’s a gamble to start in with long positions…
The 50-day averages are key. How well price action handles in here in the coming sessions will be revealing.