The Bounce Might End Near 2520-2580. Mini ES Futures
" The dramatic bounce on Boxing Day marked the biggest single-day upward reversal for almost a decade. "
U.S. stocks halted a two-day rally as thin trading added to already-volatile markets ahead of the weekend. The S&P 500 ended the session lower but held onto its first weekly gain in a month. Trading was still volatile after a roller-coaster session Thursday that saw the biggest reversal since 2010. The holiday-shortened week began with the worst pre-Christmas day on the record before stocks notched the biggest one-day surge in almost a decade. The benchmark is on track for its worst year of the bull market.
On a technical basis, I think the short-term bounce will end at below 2600 level, and you are lucky to catch the bottom at below 2320, you should consider to realized some long position when the bounce loses its momentum.
U.S. stocks halted a two-day rally as thin trading added to already-volatile markets ahead of the weekend. The S&P 500 ended the session lower but held onto its first weekly gain in a month. Trading was still volatile after a roller-coaster session Thursday that saw the biggest reversal since 2010. The holiday-shortened week began with the worst pre-Christmas day on the record before stocks notched the biggest one-day surge in almost a decade. The benchmark is on track for its worst year of the bull market.
On a technical basis, I think the short-term bounce will end at below 2600 level, and you are lucky to catch the bottom at below 2320, you should consider to realized some long position when the bounce loses its momentum.