To no surprise at all the bloodshed in the U.S. stock market was short lived as a furious late rally pushed the S&P 500 to actually positive from the prior day.
The Turnaround that always is...
Some are more blatant then others, but it seriously is like there is an invisible hand (coughs FED) that comes in and just puts a bid under the market every time it is rolling over.
Back in late January we saw a technical breakdown only to see price to an about face the next day and the proceed to rip to new highs.
The we get this week's selloff and the late day turnaround.
I have learned not to fight it. Plus I'm too busy trading crypto anyway.
Speaking of crypto....
Bitcoin bounced off a key level around $44,900. Hoping it can hold above that and rally after two ugly red candles. A candle like the S&P 500s today would have been nice, but I'll take what I can get.
Elsewhere, the DEFI coins have been straight crazy train with the price action. Been a fun rollercoaster, just be sure to not get sick!