If the major averages can rally above yesterday's high, a decent rally could develop, as the longs who sold into yesterday's ugly close have to buy back in at higher prices or risk missing a rally.
The stock market indices started off the day with a bang, gapped up, pulled back, tested support successfully, and then really had a strong morning run that took them to the session highs above 1820 on the Nasdaq 100 and near 1077 on the S&P 500.
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