Okay Bulls, Prove It!
Stocks sit at a key resistance area.
Our View
We are due for an oversold bounce, the only question is: Can bulls actually prove they are in the driver’s seat for more than a few sessions?
The S&P 500 (ES) has declined in 10 of the last 11 weeks and in that span it has fallen 992 points from the high to the low. Even from a bearish perspective, that’s due for a bounce at some point.
The bulls…