We are back up on a positive trendline again.
And that's not because the markets were up huge on Wednesday, but because we broke through this key technical line:
That's a chart of the S&P 500 going back to last week. The green trendline had been tracking the local highs. On Tuesday we reported that it didn't matter if the market was up on any given day because it would repeatedly touch the trendline and then fall back down. The only time we would know if the markets were truly "back" was if it could get over that hump: breaking through the trendline. Just being up on a single day wouldn't cover it.