With the help of the Federal Reserve, the S&P 500 stayed above the January low and traded all the way back to the 1320 area. We will have to wait until tomorrow to find out if the market treats this as resistance or support.
During the middle of the day, the market created a Double Bottom Formation in the 38 to 62% correction zone.
In the morning session, the market made a series of lower highs and lower lows in the NYSE Advance - Decline Line. In the afternoon, higher highs and lows was the rule. This helps determine if the trend will continue or reverse.
Charles
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