Futures are up sharply after reports that eight Senate Democrats have caved on their demand that ACA healthcare subsidies be preserved for millions of Americans.

In exchange, they have reportedly secured a promise from Republicans to hold a vote in December on whether the subsidies will be extended. If unsuccessful, healthcare costs will soar for 22 (92%) of the 24 million Americans receiving help paying for healthcare under the Affordable Care Act.

The eight senators who broke with their party faced a difficult choice: throw millions of America’s most needy citizens under the bus with regard to healthcare or throw other millions of Americans who have been affected by the shutdown under the bus.

The House must still vote to pass the CR under the same terms.

continued for members…

The rebound occurred after ES, SPX and COMP all tested their SMA50s.

Note that COMP tested and bounced off its SMA50 as we discussed last week.