After being absent for the month of June thus far, the bulls have at least showed up for work today. It looks as though we have not had any kind of fade of this morning’s rally yet, which is bad news for bears looking to play a failed bounce. So long as the market can hold up here, it should bring even more buyers off of the sidelines as the session progresses. The two main areas where I am focusing my attention are on stocks that have held up remarkably well despite the recent selling, as well as short squeeze plays poised for vicious rips. While overhead resistance is sure to be a factor in the next few days, right now traders are more focused on whether the rally is even playable to begin with. That overhead supply will be contended with at another time. For now, it’s all about the relief.
Indeud.