We are back to the Oct 20th level and after a 80pt retrace, but bullish argument into year end is beginning to look better. Europe ‘s situation continues to remain volatile. Greeks hesitating to accept the bailout and Italian bond worries are making head lines today. We may still test spy 121 or even 119, but I feel better about buying here vs 2 days ago with big Ben on deck. However, judging by the immediate action right after close, many feels the same way and the first bounce may be a sell.
