There is still a rally target outstanding at 8343, and it is that fact more than any other right now that suggests stocks will go at least somewhat higher before the six-week-old bear rally peters (or perhaps flames) out. Assuming the Indoos take a little rest before their next sucker’s leap, we should look for the pullback to come down to at least 8047, a midpoint pivot asssociated with the target. As always, an easy breach of that support would suggest that more selling awaits.
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