Rallies Continue But Still Considered Relief Bounces
The bounces playing out for markets still have the look of relief bounces - at least until technicals confirm net bullishness. However, long opportunities present themselves. For the S&P, price action looks to be confirming a double bottom which should be enough to see a challenge of 2,873. Today's volume was lighter which suggests the rally from here will be a struggle but 'climbing the wall of worry' will suit bulls at this point.