Blow out day for the stock market with S&P up 1.5% as always when it gets extremely over sold you get the guaranteed rally.
BUT.
In the weeks to come Nasdaq could get weak again and test that trading range low of 12,400-500.
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I agree. I would not be surprised if the S&P 500 rallies back to the old highs and then fails. The result would be a multi-week correction back to the 200 dma that will produce a more sustainable rally.