Minimum Gains Give Bulls Reason For Optimism
Traders had a weekend to stew over Friday's losses and a weak open on global markets could have set a more negative tone. However, this proved not to be the case. The S&P staged a small rally from its 20-day MA. The rally hasn't yet undone the 'sell' trigger in the MACD but the sequence over the last five days has mapped a consolidation handle which has the potential to challenge and get past 3,200.