Bears had for themselves a good opening, but that’s all that they’ve managed to do.
Since then the bulls have managed to nourish themselves in a steady diet of “buy the dip” and it is still working for now, though there is still about half the day’s losses left on the table.
It proves once again, just how hard the large gap downs in excess of 15 points on SPX are to keep as they will, more times than not, get bought up by the bulls and many times finish green on the day.
Then of course you have the pesky Greece situation that has had a “last attempt” to save Greece every day now for the past two weeks.
If the bulls can pull it together though and rally like it did last Wednesday, then you will want to please yourself with a few servings of the fine delicacies shown below. But don’t over stuff yourself, because too much of something, with the current market conditions, is never a good thing.
Here are my bullish trade setups:
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