June 23

Another strong bounce off the 200 day SMA. Huge reversal candle on all the indices. Markets closed on a strongly positive short term trend. The COMPQ and RUT not only closed positive for the day, but the COMPQ has almost made a higher high. I still maintain (like I did yesterday) that the pullback was a buying opportunity. I think this market wants to retest 1315-1330 before turning back down.