- The S&P 500 was down over 55 points from its highs. Inline with the 4%-6% corrections we have seen since the July low.
- We are approaching the end of the month, which is seasonally strong.
- We are finally seeing some put buying rather than complacency
- The market is oversold in the short run, although there is room for it to get more oversold.
- The S&P 500 is at support.
Ingredients For A Bounce
The ingredients for a bounce are now present.