The S&P 500 indeed find an early morning low yesterday as expected but instead of only bouncing a few points and being trapped for the day, it pushed up to test the November 9th high. It still has the look to a lower high in the making and thus have a bias to lower. However, if 2578 SPX holds as support, a rally to attempt to fill the overhead gap is possible. Ideal in my view is that 2578 SPX is tested but only results in a shallow bounce.

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