(Before It's News)
- S&P 500 (SPX) yesterday managed to bounce following yesterday’s sell-off
- SPX has a strong rising trend-line that goes back to the February lows and will be tested at 2139.
- A lot of resistance overhead for the market between 2160 and 2190 on SPX.
- Volume on SPDRs S&P 500 (SPY) dropped off dramatically yesterday and came in well below recent averages.
- CBOE Market Volatility Index (VIX) dropped 4.7% yesterday down to 12.99. The VIX melt continues.
- Crude (/CL) rallied hard yesterday, rising 2.3%. Today it is looking at another strong open with a move above the August highs.
- The number of stocks trading above their 40-day moving average popped 16% yesterday to 47.7%
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