So, why the bounce back this week?
Do you think it may be the current Covid spike seems to be passing? Is that what is giving some optimism? And, if so, what does that mean for the next month?
What do you think?
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early mid term high hopes?
Oversold indicators, overly bearish investors, strong earnings, bargain hunters. I'm not sure it can last but the relief rally was due. 4610 and the 4700 / 4750 area on the S&P look like significant places for the bounce to pass or fail.
Remember the new highs in late 2007 before the 2008 bear market? Explosive rally off the lows marks the peak. We may be in that type of "denial" explosive rally right now.
Tom
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