Good rally from extreme negative sentiment levels but it did not close at the highs and seem to find few believers that it can be sustained.
But, the great bull market soared and prospered on a wall of worry and doubt so let's see if this is a real rally or merely a relief bounce.
Will the dip buyers continue to add more money or will the bears launch another attack?
SPX must regain that 50 ma level and push up or else the next major low objective of SPX 2650 will be achieved by end of May.
I think there will be frenetic and furious attempts by the powers to keep this rally going and they may succeed in taking it back to SPX 2900 but..... there will be lower lows during the nextt 2 to 3 months.
More Chinese veiled threats:
The US side released some signals to ease the situation these days. It dare not play rough to the end. What it's doing is threatening China while propping up US stock markets, keeping up the hope there will be a deal finally. The Chinese have seen this through.