Well Guys,
As expected the "Generals" defended the .382 retracement level on the SnP finally sparking the begining of "the bounce" that will determine the course of trading for the rest of this year.
If, as is anticipated, this bounce is nothing more than a bear market rally it will be clearly obvious as the market internals will not confirm the advance and the Market will do little more than bounce up into resistance while working off its current extremely oversold situation...
Where does this bounce go....Easy, first stop is right back up to the .382 retracement of this selloff at 1380 on the SnP.
JRH
