Strong rebound rally, but can it hold?

After the share sell off last week, bearishness amongst investors was high going into the weekend. As usual the market likes to do the exact opposite in the following session. Monday was no different as the S&P closed up +2.3%, led higher by banks like JPM (+6.45%) and C (+6.89%).

Sharp rallies like these are often signs of short covering rather than healthy buying. Heading into Tuesday we can probably expect this rally to continue into the morning, but as the week progresses we have a lot of headline risk from Europe to contend with.

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