S&P almost to the penny hold of 200 day average which also held Feb 9. A bunch of potential double bottoms. A drop, a retest, a rally. Beta went nuts. Gap to the upside into end of quarter…which we warned you about. End of quarter moves off of oversold conditions can be vicious.
We suspect more upside into end of holiday-shortened week. As we scanned a couple thousand names…still a ton of technical damage. Most everything except the SOX is below the 50 day average…but good day at vital support areas. The process continues.