A Relief Rally is Underway, But the Path Forward Remains Unclear π The Chart Report
Chart of the Day
π Today's Chart of the Day was shared by Frank Cappelleri.
The S&P 500 has rallied roughly +4% off Mondayβs lows, closing the week higher and snapping a five-week losing streak.
A similar pattern unfolded last year, when a -10% decline was followed by a short-lived counter-trend rally, and then an additional -15% drop.
The key question now is whether the S&P can hold on the next round of profit-taking, form a higher low, and signal that a durable bottom may be taking shape.
The Takeaway: Weβve seen a bounce, but itβs too soon to be confident a structural low is set.
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