-weekend short covering and Europe gains push prices sharply off their lows and finished near intra-day high. Regional ended within 1 to 2% lower on technology. Europe near 1% in late Asian hours while DJ reverse early losses at +7.
-this time the mkt manage to rebound after another scare in early PM session. A bit of feeling that a rebound is in the card if above 1256. Again, to reverse some of recent bearishness, Feb10 must at least cross back above 7SMA or 80++, also the minimum upside target for rebound mode. Otherwise, the trend is bearish.
-below 1256, strong sell as this would put technically put the mkt below long term support of 100SMA ( 1256.6).
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