The S&P 500 has recovered the 50 day moving average today, but is holding on ever so slightly. The Russell 2000 index has also recovered the 50 day, leading to a more bullish case.
Bulls need to push us higher here into week’s end to make a statement. A weak close will lend a hand to the bear case, as the 50 day continues to create resistance.
Let’s see how they close us today. We should have confirmation on future market direction in the next few days. Today’s close is important. Developing…
