Bears have little wiggle room given bounce to Downtrend

Key Takeaways

S&P, NASDAQ and DJIA have all bounced to key downtrend lines from early September. Thursday’s relief rally doesn’t yet turn trends bullish, but closing above Sept 27 highs would argue a move to new highs is underwayBreadth is an impressive 5/1 bullish with 8 major SPX GICS Level 1 groups up more than 1%Treasury yields have pushed higher to test Sept 28 peaks. Climbing to new monthly highs would argue that a Treasury selloff/yield breakout to test former yield highs is u...

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