The S&P stuck its neck above last week's FOMC gap settlement and the SPY had a bullish engulfing daily candle, but all was surrendered ahead of the close. These are some of the indicator we are looking at to signal this pop in stocks can turn into a real rebound.
A portion of our daily Morning Express
E-mini S&P (June) / NQ (June)
S&P, yesterday’s close: Settled at 4099.00, down 32.25
NQ, yesterday’s close: Settled at 12,551.00, down 95.50
Fundamentals: U.S. equity benchmarks are so far doing a terrific job digesting gains. The S&P rallied 10.4% from low to high in six trading days. In our Midday Market Minute...
A strong day for indices, ES, NQ, YM, RTY, what do we need to tell us momentum is shifting hands? I also cover the individual stocks I am watching most closely heading into the final trading day of the week.