Brutal day in the market so far today and there has yet to be a bounce of any kind at this point.
On the TICK there has yet to even be a net +500 move at any point in the day. Quite frankly, that is hard to come by. Decliners are holding a 7-to-1 advantage just about, over the advancing NYSE issues.
So yes, it is very bearish out there. But as we have seen many times this year and in years past, the bulls rarely find a dip that they don’t like to try and buy. So while the market is down a significant amount, and down for the fourth straight day on SPX, it doesn’t mean that it will necessarily stay this bad.
Today’s sell-off also allowed for the removal of a lot of bullish stocks that had previously been on the list below. Vetting this list today was fairly easy, especially when compared to recent weeks.
So check it out and when the dip buyers give the green light, then look for a few solid setups to take on.
Here’s the bullish watch-list:
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