📺 The Market Is Bouncing Back — But The Real Test Starts TODAY With FOMC & Big Tech Earnings Please ❤️like and 🔁share with fellow growth stock investors @dvandenbord notes that the stock market is showing some of its strongest recovery signals since the recent pullback began, but the real test starts TODAY. * After two consecutive sessions of strong buying, the S&P 500 $SPX / $SPY has reclaimed both its 21-day EMA and 50-day SMA, joining the Dow $DIA and equal-weight S&P 500 $RSP above key short-term moving averages. Small caps $IWM have also recovered their 200-day moving average, an encouraging development if that level holds through the end of the week. * However, the market remains officially in a short-term pullback. Our market leadership indicator is still flashing RED, although a yellow sub-arrow suggests conditions are beginning to improve. What's particularly encouraging is the rotation back into growth stocks. For the second straight session, money has flowed out of defensive areas and into growth names. Several stocks that broke above shelf pivots over the past two weeks are holding those breakouts and making additional progress. That's exactly what we want to see. Sustainable rallies require breakouts that stick, not stocks that repeatedly surge above resistance only to reverse lower. * Meanwhile, consumer staples $XLP, which previously served as a defensive hiding place, are weakening as investors move back toward risk. We're also seeing positive developments beneath the surface. The Nasdaq McClellan Summation Index is hooking higher, daily stochastic indicators across several major indexes are turning up, and market breadth is showing signs of improvement. * But here's the critical question: is this the beginning of a sustainable recovery or just another rally that will fail? We're only on Day 2 of a rally attempt. Wednesday marks Day 3, and Thursday could potentially deliver a follow-through day if the market reacts positively to the FOMC decision and meets the necessary technical criteria. * And the timing couldn't be more important. TODAY brings the FOMC decision, followed by earnings from $MSFT and $GOOGL after the close. Thursday brings inflation data before the opening bell and $AMZN earnings later in the day. That's an enormous amount of potential market-moving news packed into two sessions. * Markets often rally ahead of major announcements, but that doesn't guarantee a positive outcome. If investors like what they hear, the rally could gain momentum. If not, the market could quickly surrender the gains accumulated over the past two days. * Two other developments are worth watching. First, oil $USO and energy stocks $XLE are pulling back sharply, with $VLO showing a notable change in character. Lower oil prices could ease inflationary pressure and potentially support growth stocks. Second, junk bonds are recovering. $JNK $HYG High-yield bond prices have reclaimed their 21-day moving average while yields have declined over the past five sessions. That's an encouraging sign of improving risk appetite and reduced credit-market anxiety. * So, the technical evidence is improving, growth leadership is returning, and several secondary indicators are turning bullish. But we still need CONFIRMATION. For the S&P 500, holding the 21-day and establishing higher highs will be essential. The market has made a promising start. Now the Fed, Big Tech earnings, and inflation data will determine whether this rebound has staying power or becomes another failed rally. * Watch this Short video where @dvandenbord breaks it all down in detail 🔽