The good news is the S&P 500 did move lower yesterday but only made it to the top of the target range before going into a holding pattern prior the FOMC minutes. After the minutes were released, the market rose in a pretty steady manner making it likely that the corrective move from May 14th is complete and ready to start a new leg up. Today, will look for 2725 or 2719 SPX to hold as support in the morning before moving on up toward the May 14th high and beyond.
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