The S&P 500 had a tumultuous week last week, pushing lower Friday to significant support and bouncing hard into the close. The positive sentiment extreme that has built up of the last couple of months has been erased quickly and now replaced with headlines about the equity markets being in bear markets. Next we should see several weeks and probably months of back and forth in a corrective formation as outlined in the separate post on the S&P 500 big picture over the weekend.

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