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The market initially dropped but then surged as the Bulls overpowered the Bears. In yesterday's video, it was anticipated that the market might gap down below the 200-day moving average and break the trend line, potentially leading to a sell-off towards 3,800. While it surpassed the 200-day moving average, it failed to break the trend line, resulting in a rally by the Bulls towards the end of the day. The question now is whether the Bears are finished. Jacob Gabbard analyzes the S&P 500 and NASDAQ using Elliott wave theory on his show "Invest with Jacob" and provides daily updates, trade setups, and buy alerts. Today's rally alters the outlook, prompting a closer look at the charts.
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