The market has nearly recovered to bull run highs after a monster gap higher and on significant rotation back into Financials and Emerging Markets.

As an educational point, it’s generally the case that larger magnitude gaps have a lower probability of back filling. At the mid-day, internals continue to look trend-day bullish, although price may face round-number resistance here at SPY $133.

Related posts:

  1. 06.02.10 – Bull Trend Day
  2. 03.25.09 – Raging Bull?
  3. Amplitude and Frequency in Bull and Bear Markets
  4. 10.13.10 – Another Bull Trend Day
  5. Bottoming or bull trap?