Big turnaround today
The S&P 500 is hitting fresh highs of the day, up 22 points to 2045 after falling as low as 2019.
The nearly 30-point turnaround puts a bullish outside reversal on the chart.
Technically, I highlighted a series of support levels on Friday that extended to 2017 and that's what finally halted the wave of selling.
Any time there is selling in the stock market, there is always someone making the case why it should fall much further.
The obvious catalyst right now is the Fed but I just don't see it. Companies can continue the debt/buyback game with rates 25 basis points higher.
