Midday Update: 2023-10-09

Equities bounce back in the morning

S&P 500 futures gapped down overnight on the geopolitical news but firmed up about 30 minutes before the cash open. Next, we have seen effort put in to fill the gap and recover the drop. I have a minor bias to retest or best the high from last Friday while above 4305. As to form, I’m penciling this in as the first step in a wave iv.

Working up in the fir…