Stress Tests

The lows of March were excessive and the bullishness now is equally so. We’re not out of the woods yet, the market is simply correcting back to the 8k-9k range. I think it’s likely that 9k will once again prove a top for this market and that a medium strength correction will ensue. There are plenty of people who made the trade on the upside from the March lows that don't believe in this rally and will be taking their profits over the next month.