The theory is when everybody is bearish it is time to buy, buy, buy and when everyone is bullish it is time to sell, sell, sell. Skip back 2 days and everybody was ready to give in to the markets demands. The question was not how low we can, but how quickly we can get there?
Over the next 2 market days, we have seen life spring back into the markets. I’m certainly not calling a bottom by any means. In fact, volume on these last 2 up days were relatively weak. That being said, it is nice to know we can still get a rise out of the market.
A recent analysis of the S&P 500 (SPX), shows us that there are bullish signs in the market. The key is to see how the setup pans out.
Watch this video analysis for more details on the latest market trend.
Where do you think the market is heading to right now?