S&P500 Burden of Proof Lies With The Bulls May 7, 2015

By Lawrence

After 2 big range directional down days there were still people dumb enough to short the previous day close / current day open. They provided the fuel driving the stock market higher this morning.

This pullback is expected and in progress.

The real fight for SPY is whether it will sell off later in the afternoon from 209 with a weak close. If so, we may get down to 205 much faster than many people think.

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