The stock market is all about investor psychology, right? Well the battle lines have been drawn! The previous 4th wave intraday low for the S&P was 1284. The previous 4th wave intraday low for the COMPX 2040. We sold off below these levels in the past few days. And now they are acting like short term resistance. These are key EW pivot points to turn this market around.
Looks like a gap up opening Especially helpful to the S&P's to get over 1280 and 1284 And sentiment has turned 'bottom' bearish: see chart!