Indexes worked hard today at establishing a support area. Sp500 futures held the lows from last week which ignited a 35 point rally from the days lows. Nq100 continues to be the pig with liquidation a daily feature but is substantially oversold and holding above the lows made on January 23rd. The DJI languished in choppy trade and rejected bear attempts to drive it lower late.
The market has absorbed significant selling and professionals are not particularly interested in being short down here. Friday upside action would build on the washout action of three weeks ago.
