Fed cut rate by 50 bps and market rallied above r1 but fell back to s1 by the close. A volatile market indeed and obviously 644 or Dow 12500 is the first major resistance for the bulls to overcome. If you look at the weekly chart, the trend has turned up and there should be more upside according to the daily chart. The futures tonight do not look too promising. On the other hand if tomorrow's numbers (642, 636, and 626) are not violated. It may be a buying opportunity.
2c
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