UPDATE: S&P 500 Held Upper-1830’s Level; Judging Bounce is Next Key

On Monday, we highlighted the upper-1830’s area as the first significant level of support in the S&P 500. That level held precisely.

Now, the key is to judge the quality of the bounce. Holding a close above 1860 today would be very constructive and a close above 1875 would potentially bring the highs back into play again.