Yesterday broke an 8-day rally in the S&P 500 but futures are pointing to a 0.2% rebound today.
A notable chart I highlighted yesterday was an 8-day rally in a rebound from a sharp selloff in the index in 2023. After a small setback in mid-November, it continued higher through year end. Momentum can be a powerful thing in markets, especially in this FOMO driven, 0DTE-fever market.
The risks on the calendar today include NFP revisions at 10 am and the Fed minutes at 2 pm ET.