The overall bloodbath in the markets yesterday left the main indices in oversold territory. If history repeats itself, the double bottom formed in the 
SPY should account for the beginning of the next leg higher. If the current headwinds persist, the bears will need to push the market below $428. $435-436 will be an important level for the bulls to reclaim today to avoid this early pre-market strength to become a dead cat bounce
SPY should account for the beginning of the next leg higher. If the current headwinds persist, the bears will need to push the market below $428. $435-436 will be an important level for the bulls to reclaim today to avoid this early pre-market strength to become a dead cat bounce
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