Fast and the Furious

SPX went from very oversold, to very overbought in just a few hours.

It amazing what the market can do on a low volume day, since today is Yon Kippur. Look at the complete lack of volume.

If I was a bull I would want to see a lot of up-volume on a day when SPX is almost up 2%. Dollar is rallying here and back above 77.00, oil is off it's highs. Both bearish for equities but with such light volume the market can ignore this and keep rallying, but there is resistance at 1065-1070.

Looks like the 20ema is still support for this market on the daily chart it was able hold off the selling last week and SPX bounced hard today.

The test will be if SPX can get above 1065.