Last Hope For The S&P 500: Major Level On Watch

The S&P 500 is hovering at the double bottom from yesterday. This was the opening print yesterday morning that quickly saw the markets bounce sharply back. If this level holds, the markets can bounce back towards the flat line and maybe even positive. If not, look for $189-$190 on the SPDR S&P 500 ETF Trust (NYSEARCA:SPY). As of now, the markets moved below this level quickly intra candle before bouncing back above. Key level here folks!

Gareth Soloway
InTheMoneyStocks.com