The market gave the bulls a good scare this morning.
Holiday weeks have a history of being bullish and going back to 2015, July has been one of the best months for the bulls to trade.
While there was the temptation probably for a lot of traders to get short this morning, it made little sense for me to do so. We are currently oversold on the daily time frames of the market, the financials are extremely oversold, and even technology has seen quite a bit of profit taking of late.
I don't know if the market is going to go back to all-time highs anytime soon, but the prospect of riding an oversold bounce higher in a historically, bullish week and month looks to me, to be a solid trading opportunity here.
Here's the bullish watch-list:
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