The market got a good start today but quickly gave back all the gain and even dipped deeply into the water to as low as 5190. For most of the day, it seemed a hopeless market with the bears decisively dominating. Then all the sudden, everything changed in the last 30 min. Not only SPX had recouped all the intraday loss, it had actually mounted an amazing revenge rebound by finishing near the 5280 level as I mentioned to my DW Family before opening. What an achievement by the bulls!
If the bulls can keep the momentum, then we may very well see the start of the summer rally in the weeks ahead.
