So if you click the link, you will see the 60-minute bars on the SP500 and what Michael Ashbaugh is talking about.
Reason du jour? A bevy of data brought buyers back into the stock market today. Their support spurred the broad market to its best single-session percentage gain in almost two months.
Yes, that does include a flurry of economic data.
So, between a bevy and a flurry, and we get a big, one-day rally.
It is options expiration week. It is the seventh week, after six weeks of down.
It also seems that within a few points, the market retested the March lows. So that could be the trading range we’re in.
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I’m still in my SPY trade and can see the break even point just a few dimes away.