SP500 saw a very strong rebound from the 6576 level, and notice that price has already recovered above 6773, which we highlighted yesterday as a very important key level for a potential local low. This increases the chance that the market can recover further, especially if tensions in the Middle East calm down after the first week of attacks. The market currently seems very sensitive to any positive news. Even Trump has already tried to calm markets with comments that could help bring oil prices lower, and softer oil would naturally support equities if the recent spike in crude turns out to be only temporary.
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