After getting spanked in the morning the S&P500 was able to clawback some of its losses and close above 1360, which has been a key support level. We have our doubts this will hold and won’t be getting lathered up about risk until Europe settles, which could be some time.
The market is feeling a bit robotish again and driven by short-term traders. Witness the early selling and late short covering. Stay tuned.
(click here if chart is not observable)