Early action:
A big move higher in stocks this morning has the S&P reaching for yesterday's highs, but could be running into some resistance so another wave of buyer may be needed to avoid another push lower by the bears. Volume was very high on Tuesday, and that had a bottoming feel like in September, but even if it was a bottom, a test of the lows as we saw in October is possible. That mid-September fake out breakout was a big disappointment to the bulls.
The yield on the 10-year T-bill is up some as it eyes those open gaps. The dollar is down again but looking to stabilize near some rising support.
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