Intuitive Bounce

Sweet dreams are made of this
Who am I to disagree?
--Eurythmics

After probing the aforementioned 200 day moving avg a couple of times yesterday, the SPX vaulted about 90 handles in about 20 minutes before settling with 1.5% gain on the day. In retrospect, this was an intuitive level for the bulls to make a stand.

Does this 'successful test' of support sound the all clear? Perhaps. Were I a bull, however, I'd post sentries at the 2550 Maginot as I suspect the bears will be back soon for another assault.

position in SPX