Alexandros Yfantis | Oct 11, 2013 06:57AM ET
Bulls made a dynamic comeback yesterday. The upward move that we were expecting to start from next week came earlier and caught us by surprise while we were expecting a shallow bounce and a new low towards 1630. Yesterday’s upward move was not just a bounce. It was a strong buy signal from bulls and a sign that the year could end with a new all time high. October is usually a month where big declines occur, but its most common characteristic is its increased volatility. What about S&P now? Are we in a bullish trend or is the 1646 going to be challenged? We believe that yesterday’s upward move has tipped the scales in favor of the bulls.
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