Pattern of higher lows confirmed together with clear break of 1294. 200 day ema held. It's all bulls for today.
First move over 1300 in three weeks. Expect some consolidation before level fails or breaks.
Bounce off 1257 gets us back into upper range. 1294 - 1300 still looks tough to break.
There was a lot of talk among the bulls that the rally off 1257 on Thursday marked the end of the bear leg of a bull market. Than Friday happened - not hearing much from them now.
Last big news rally was the OBL raid that market the swing high for this move.
Bear resumes, look for low test.
Fed may be putting a lid on this rally.
This market is going to test some big levels now. Not necessarily trend resumption long, but certainly the hold at the 200 ema is giving the bulls some ammo.
Market needs to lick it's wounds a bit before any sustained rally.
Daily S&P looks ready for a bounce, than we'll see where it goes.