S&P 500 Has Chance to Close Above Yesterday's Highs « Market Montage

First thing this morning I mentioned that a key first step for a short term reversal would be a close over the previous day's high at the end of the day.  With 15 minutes to go this is now a real possibility for the S&P 500 – yesterday's high was 1360.62 and the current price is 1360.22.   That said, even if it does not happen there was a nice bounce off the 61.8% retracement level – literally to the point (!) and a reversal intraday.  Let's see if bulls can follow through during Turkey Week to deliver that long sought oversold bounce.  Have a good one.

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