The markets revisited the area they were routed from late Friday. The DJA 13400 and the SP futures 1485 now will become a technical focal point over the next few trading sessions. The bulls have once again demonstrated elements that have made the bull run famous, the ability to take a pounding. The bulls however may be pressed to repudiate the entire break in order to avoid the hammer beyond this week. Whatever the reasons for last weeks break, the volume and volatility are clear signs that a further roll-over in price action may increase the downside velocity.
Models are still rotational.
