Today, U.S. stock markets got a boost off yesterday’s lows. That came right on time for stock bulls, and in line with our expectations, as explained yesterday. But where do we go from here, and how important was today’s bounce?
As the first chart shows, yesterday’s closing was at the day’s lows, not a very good sign. So the bounce of today, with a close near the day’s highs, as seen on the last bar (on the right) was a mandatory step for bulls not to lose control. For now, a higher low has been set in the key U.S. stock index.