When we have a look at the S&P intraday, I think since the 11th of January we have a bullish falling wedge on our hands, so we are looking for a break to the upside maybe. These can take a few days to form so we will know more very soon.
As you can see on the chart both the buyers and sellers are slowly getting squeezed here, and we will soon know. :-)
|bullish falling wedge|
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