looks like we have a bullish swing day set up if you have a look at the S&P chart below.
These normally preceed strength and upwards movements. So there is some up coming, because the bulls really came back by the close.
Having a look at the tick data, as we stated, there was warning of a bounce coming. Now with no more downside room to move on the tick we have double confirmation that a rally is about to start very soon.
We have a double confirmation that the market is getting ready for another nice UPWARDS run soon. Even though a dip came, we are still saying this market was a BUY THE DIP scenario. We still feel that 1490 - 1500 is going to come for S&P 500 very soon, and wipe the smile off the bears faces.
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