After the feds verbally committed to protecting the economy going into the close of business this past Friday we definitely saw buyers step in and give the market a much needed squeeze back to the upside. That and the fact the indexes are near done transferring liquidity from the old contract(H) to the new one (M) I have a feeling well see the market start to stabilize a bit more.. This may be a good opportunity to long the FAANGS and other strong stocks that are likely to bounce with the SPY.
Trade closed: target reached