Time to Book Profits as Market Rebound Could Face Headwinds

While this still has a long way to go before getting back even half of the previous eight sessions of losses, three days of gains is a good start.

So, it was actually refreshing to see the market maintain its composure this time. A calm market is a bullish market. The index broke through 4,200 support/resistance and now rests just under the 200dma. It wouldn’t surprise me to see this rebound run into some headwinds.

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