Below is my usual short and long-term perspective on the 500 index…reflecting that long-term resistance remains at hand and short-term channel support is fast approaching.
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The potential for a debt ceiling solution is close at hand time wise….interesting that the 500 index is very close to the bottom of its multi-month channel, at the same time. If aggressive, look to be a buyer on support if the 500 index can create another bullish downside wick, like it has at each of the lows.
It sure looks like we got our usual bounce off the 200 MA. Sure looks like a nice bullish wick to me.