Market’s Path of Least Resistance is Up in the short-term

For perspective allow me to once more reiterate my three reasons for why stocks could continue to rise into late August:

1. Seasonal strength in mid- to late August;
2. A tendency for stocks to rally into monthly options expiration (with the next being on Aug. 21); and
3. Overly bearish investor sentiment.

Thanks to Wednesday’s V-shaped bullish reversal, i.e., last minute save, traders now have a defined line in the sand around 2,050 to 2,060 on the S&P 500 to use as the stop-loss area.

Read my full analysis HERE

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