

Absolutes sound great, but proportionally the market has some way to go to eliminating the overall downside risk we have recently seen. Still, it could happen that the market powers up through those resistance levels. True believers, will of course, just keep buying. 

However, I would tend to favour sideways volatility around current levels for some time. the immediate momentum is bullish, but there could be a lot of people looking to sell the rally to get out of long held bad positions.

Good 'bounce'.

Jul 29 2021