Last night, ES tested the 1600 area lows last probed on June 6th. They held. In addition, my favorite measure of risk appetite USD/JPY has completed five waves down and is due for at least a moderate retracement. Thanks to these and other developments, I am expecting a bounce, possible significant that could last till month’s end.
Of course, this all need chart confirmation and I am not overly impressed with the bounce so far. I am up 1% today with big gains in BBRY and coal finally catching a bid helping CNX. The stops are in and I’m checking out.