Instead of follow through sell, mkt did a strong reversal, totally erased Mon’s losses. A strong day for equities, regional+1%, Europe +0.5%. Mkt rebounded sooner, bigger than expected after DJ posted gains on Mon.
Fbm was mostly at 1333 b4 a 2p reclosing push while fkli stuck in +ve range of 30-35 b4 reaching for new high after fbm closing. Both quiet.
While still sideways, bulls prevented a fresh leg down and keeping the mkt in a neutral range. Instead of fresh bear trend, the mkt is back to “tug of war” range..last week range.
Above 40 would put bulls in better position again. Immediate support is raised to 30 from 25.
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