re-testing the bottom

Keep this number in mind today: 839.80. That number marks the low established on Oct. 10 and it is considered the key line in the sand for technicians when they make reference to "re-testing the bottom."

Where it goes from there is anyone's guess, but the resilience in the early-going indicates a lot of the bad news was already priced in with the 15% decline in the S&P 500 in the past six sessions.

If the October bottom holds, there is good potential for a nice-sized trading rally.

YMYD