I’m Not Bullish But I Am Expecting A Bounce

Buyers and Sellers have been balanced the last two months and the drop the last few days is setting the table for a bounce.

PRE-OPEN MARKET COMMENTS MONDAY – The SPY has breached the upward sloping trendline, the 50-day MA, the 100-day MA, AVWAPQ and 1OP D1 is bearish. Overseas markets were generally lower and the S&P 500 is down 17 points this morning. It is testing a Low+ trendline from May 5^th and a Low- trendline from June 26^th (you need to view futures charts to see these lines). TLT is making a new 10-year low and it will weigh on the market today.

Daily Bulletin Continues...