The market had strong bounce today, but the bounce came with lower volume. $Bpcompq and $Bpspx dropped for an strong up day today. I think there's higher chance that today's bounce is just a deadcat bounce in the downtrend. Looking at daily $spx chars, it was backtest the broken intermediate uptrend line with lower volume.
However, I would not be too bearish as long as 2050 for Nasdaq and 1020 for $spx is not taken out. On the other hand, if $spx breaks above 1075, I would change my bearish view.
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