The next two days are crucial to determining where the market is headed in the short term. If S&P manages to close above 990 and Nasdaq above 1700, I think it will bolster the bull case in the short term. Else a break of S&P 900 can start the market slide in right earnest. Today's action does give the advantage to the bulls. The burden is on the bulls now. If the market wants to rally, it has to break above the targets mentioned above quickly else this rally too runs the risk of failing.
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