Stocks sold hard but have all rebounded.
SP400 touched the prior low (it had not done so before) and rebounded. Finally a second bottom here?
SP500, DJ30 both touched at or near prior lows and haver rebounded.
NASDAQ gapped lower then reversed now positive, near flat. NASDAQ even has something of an inverted head and shoulders. The FAANG are positive except AAPL.
Software is positive with DATA near a new high.
Very interesting reversals off tests of the same low. It has held again and is producing another bounce. Sure looks like a trading range.
SP500 -11.33, -0.41%
NASDAQ 13.87, 0.20%
DJ30 -112.78, -0.44%
NASDAQ 100 0.39%
Jon Johnson, Chief Market Strategist
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