Market Bounce Ahead of News

This morning the market is staging a nice bounce above the 50-day MA.

PRE-OPEN MARKET COMMENTS MONDAY - This morning the S&P 500 is surging 45 points higher. It found support last week and it tested that level a second time at SPY $580. There hasn't been much of any news and that favors the longer-term up trend. Buyers have been conditioned to buy dips and that is why up trends die hard. We saw some light tax related profit taking last week and the market will open above the 50-day MA this morning. Europe was up nicely, but Asia was soft.

Daily Bulletin Continues...