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Can the e-SPM Recover From Thursday's Tepper Mini-Panic?


So far, the e-SPM has managed to hold above yesterday's low at 1859.00 in reaction to the stronger than expected Housing Starts data.

Housing Starts also is being supported by an uptick in 10-year Yield to 2.51% from the 2.48% low yesterday.

Next intraday resistance target is a retest of the April up trendline that was violated yesterday at 1874, now at 1875.75.

If hurdled and sustained, it should trigger upside continuation to 1880-1884, which would be the start of the repudiation of The (David) Tepper Panic from yesterday.

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