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The market is annoying the bears today. Every time they try to crack it, she holds, recoils, and recovers… After a +15% squeeze in less than a week, the bears who sold the bottom can’t even muster a -3% down day with some volume behind it. Sorry guys…

As we head into the close, volatility (VIX) has broken my intermediate support line of 58.61, and is trading under the 55 line (-8% on the day). The paint on our S&P500 trading lines (see chart) really hasn’t changed much. My S&P500 trading range is narrowing – that’s also a bullish signal. As we get closer to SPX 997, I make sales. Here are my refreshed levels:

BUY in size = 843
BUY more if support holds = 920
Sell the “Trade” = 997

My name is Keith McCullough, and I support this message.