With the S&P finding a bid after visiting initial supports in the 4050 to 4150 area, it should not surprise us to see higher beta areas of the market rallying quite a bit. While we remain neutral on the broader market, we really need to see the 4375 to 4475 area overcome to get things going on the upside for the bulls (Figure 1, red box).
On the downside, we need to. . .
