UPSIDE IT IS
Markets are bouncing off very over sold levels and the SPX 50 day SMA at 1050- yesterday they pushed it underneath but today bouncing back on the heels of a better than expected GDP number.
SPX +19, NAZ +34 and the DJIA +154.
Strongest sectors- gaming, Brazil, metals, emerging markets, homies and retail while bonds, drugs, internets, consumers and tech lags.
NYSE- 2025 net winners;
NAZ- 1400 net winners;
SPX - 445 GREEN;
NDX- 85 GREEN;
VIX- down about 11% and there go those buy signals from the VIX;
TRIN- .69 with up volume about 7x the down.
Market looks strong and those pullbacks looking like typical bull market action - so I am trading accordingly and as long as the action remains typically bullish - to the long side I trade.