Mid-week market update: The S&P 500 bounce stalled at the 4380-4400 resistance zone, which is just below its 50 dma.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgQjyeQyPMmiJla3HHAnFLOzDj9hchsV4gFTQuDbMd-kZ5dPRwxI9PdLPuyiuGV87GtM7JBuaCKsWpk8hBp3NagdWDUWow8D97U39fxw7ZJ8J9819iVMOHS_DAUSXbwr0K2oqL8TrTu81lcZ5FxlrZ4GzQb9Q9OYsV0WFceqma6To1A1GabAIH6bDjTTGb-/w400-h178/SPX.png)
I continue to believe that the next major move is up. Here’s why.
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