After 3 days of deteriorating action the market, late day bounce on 20 MA , and bulls came out and saved the Market.
Market is oversold enough to support a bounce here. Wild card will be job number on Friday before market opens. Keep in mind indices is not showing the underlying weakness in many individual names and sectors.Narrow leadership stocks and sectors as market breadth( Number of advancing stocks vs. number of declining stocks) continues to deteriorate. SPY support now 235.74 and resistance at 237.24.Need to hold 20 MA and build over it for continued strength.
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