THE month is coming to a close and bulls are thinking a summer rally. Perhaps.
Buyers tip the scale from short to buy in the pre open. They bought (minimum) at three areas as PA moved to test the Short BOT. By B1 we were in the first bull leg. I mentioned in chat that if you missed the signals, this was a strong bull trend developing and the next plausible entry would be at a quality pullback (PB). B3-4 delivered, and new longs entered leg 2 at the EMA. Exits were suggested at the LBBO-5 level, then B10 hit. Dogi at the HOD. PA pulled back to the EMA to find renewed support and a two leg move from the EMA (#3 and 4) and fell into a range bound pattern roughly +/-2 points from the BO-5. By the mid afternoon PA had held near the BO-5 and was expected to test 1326.5-1327.5 again. It did only to return to the BO-5.

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