RE:No big movement for nowMy sentiment is different.
After the results pull back the SP was in the 90-93$ range and it fell to the 82$ -83$ range with the global markets pull back in august 02.
At a macro level, the FED miss and the stocks drop has bring rates lower. (Don't forget that the FED rate is an administrated one, ''general rates'' are market driven). The rates are fallen at a fast rate. In the corporate bond market, there's nothing acceptable now ( BB or more) at 5% or over; only unsecured real estate bonds are avaliable between 5-6,5%.
For example, the Bombardier dec 2026 bonds were at 7,50% last april, they fell at 6,50% in july and are at 5,75% now.
We are on an inevitable rates fall period. More inevitable since a week. That brings the things more balanced.
I think that the SP will reach its normal balanced level ( 88$-92$) in two or three weeks whitout catalysts. I don't think that the 82-84$ level is its balanced level.
At this point, your opinion is as good and valuable as mine.