MARKET DAILY

Midday market 05/15: Wall Street reverses after concerning bad debt report

"Debt Default" is the most notable phrase of the morning before fears suddenly fade pushing the market to reverse

Market opens the first trading session of the week in rather subdued sentiment with most large caps gapping down, including Apple, Google and Tesla pulling SPY down near 410 while concerns about interest rate pressure on personal loans continue to loom over the market. The clearest reversal signal is probably on internals in the morning when all signals show clear bullish divergence even as SPY nears the 410 bottom after the first hour of the session.

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