Yesterday, the selloff continued but in the afternoon we rallied and erased most of the losses in an attempt to retake the 4500 of SPX level. Will this level hold today? Or was this a bottom of the dip? Or is something worse brewing under the hood?
Today we may see the 4500 SPX level retest again but tomorrow we are due to receive a CPI report and investors may be buying for the event expecting a rally. So, we can expect weakness this morning but another rally attempt in the afternoon.
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