Yesterday we noted that the S&P 500 and most sectors were almost back to their levels prior to the big drop last Thursday. With markets currently up more today, the S&P 500 and six of its sectors are now above their closing levels from last Wednesday. The Financial sector is up the most at 0.76% while Consumer Discretionary is up 0.63%. Lots of bears came out of the woodwork when things got ugly last week, and many said that any bounce we might see would be an even bigger shorting opportunity. We'll see how much conviction they have now that indices have gained back all of their losses from late last week and more.
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