Reason 1:
60 Min SPX chart is oversold, look at the other times recently when the STOCH has been at these levels. There was at least a slight bounce off these levels to bring it out of oversold.
920 was the gap from early June that was filled and now is support for the market. Now the market has a gap above it that is unfilled.
Reason 3:
TRIN was above 2.00
The market should meet resistance at 930-940, the bears have to hold this level if they want yesterday to be anything more meaningful, then just a correction.
Right now the kid just turned around and starting heading towards the ladder, he could still jump.
