SPX closed yesterday above 1319 (which was my long trigger level). If SPX can close today in green, it would be a reward for those who anticipate the rebound and decided to buy at dip yesterday.
Asia market is in green. Europe is mostly in green. US pre-market is slightly up. All good signs plus “China to Buy Portugal Bailout Bonds” and EUR/USD rebound may encourage Bulls some more days.
Disclosure: Yesterday I said “Contrarian play to the Bears is not a bad idea” and I did buy the dip.
Like that idea–what do you think about a gap fill to 1327.25?
BTW, what charting software are you using?
As you see, “The May 27, 2011: Bulls may target 1333.06 to fill the May 23 gap-down”. SPX had filled the gap during the intraday trade.
I am using TC2000 I like this software. You can try the free version at freestockcharts.com.