The title of this post means absolute shit, but it made for a good headline. Indeed, the $SPY did recover the 200 day moving average, but the $SPX, the actual S&P 500 index is still right underneath the 200 day moving average. We will need a solid week of earnings, else expect to get some resistance here from buyers.
Here’s a look at today’s MOMO screen. Pick your favorites, it’s still a traders market: