Morning

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It is nice to see that yesterday’s gains have not been wiped out in the first few hours, unlike previous instances this week. The bulls are taking baby steps after getting knocked down for the count over the past few weeks. 1186 looks to be a key short-term resistance level for the S&P 500, and above that I think 1200 can be had. That said, the setups are far from ideal for high probability entry points. You are talking about of a bunch of severely oversold stocks ripe for a relief bounce after the selling pressure has been alleviated. However, there is no telling how long or how far those bounces will go, and thus the risk/reward profile is suspect here.