After a low-volume three-day bounce, the S&P bounced back from a 20 point drop intraday. Even though the Eurobond did not materialize, the bulls cut the losses in half. Wal-Mart and Home Depot earnings also helped to keep the market and the retail sector from further selling pressure. I was impressed by how well the bulls were able hold recent gains despite the chorus of retest calls online. Summer vacation is kicking into high gear and the low volume may provide some choppy trading going forward without any news catalyst.
