Upside -- 1274, 1286, 1305
Downside -- 1241, 1229, 1175
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Don't have a ton of time again tonight, so quickly;
SPX Daily;
The market managed 2 things today.. it printed a big reversal "hammer" candle. It also closed back above the neckline of the huge H&S.
It appears that the market will attempt to correct oversold levels on the daily and make some sort of run here. Pay attention to how strong this rally is. (if we do get one)
The market is by no means out of the woods. It just gave itself a chance today. All indicies are still below all moving averages and the charts still look very bad.
It has a chance, so lets see what it does with it. At a minimum, it needs to get back over the 200 at 1286.
GL
CJ
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