9:00am (EST)

The market rebounded on Tuesday to test and hold near-term resistance but there is still headline risk the remainder of the week that could help or hinder the bullish case to buy stocks at current levels.

The back test to resistance was a normal reaction but Monday’s damage was so bad that the new resistance levels are somewhat undefined.  This is why we would wait for higher closes before getting too bullish and thinking this is a buying opportunity. (read more…)