Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
A lot of volatility this week, and essentially the 4th test of the 50 day moving average (blue arrows) since this long winded rally begun. After all the movement,the S&P 500 is back to where it closed Monday. After the move the past day and a half a lot of the short term oversold indicators should be worked off and the more interesting part of the action begins. The only question from here as we approach next week is: stall or V shape bounce? Should know in the next 10-15 points.
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