A diary of the thought process behind my investment decisions
Bulls On Defense
The bulls have successfully defended 1134 on the S&P 500 for two days now. Given recent history it would not be surprising to see the bulls mount a rally from that level. However, they have expended so much energy buying calls at this level that I would be surprised to see a rally with any oomph. A solid break of 1234 would likely cause some weak hands to fold and might set up a better bounce.