US Markets - S&P 500 reversal from MOB target band and 50-day average
The S&P Emini 500 futures have come down to the MOB target band and the 50-day average we highlighted in yesterday's Technical Tuesday report, and now reversing higher. We don't know the magnitude of the advance, but we do want to put on longs to take advantage of this deep oversold condition. The fact that we have a turn from the MOB and 50-day is what we are leaning on. In the back of our minds is if we see a rally that eventually fails as it did in February of this year.
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