Momentum Trades

Bears Make Late Day Comeback

9:00am (EST)

A late session pullback gave the bears a rare win for May but the bulls were able to push all –times once again before giving back their gains.

The Dow fell 42 points, or 0.3%, to close at 15,233 on Thursday.  The blue-chips opened lower and tested 15,240 before making a run and nailing our 15,300 target.  The index kissed 15,302 before the late day fade to a lower low.  There is further support at 15,000 and it will be interesting to see if we called an exact top before a pullback or if there is more room to run.

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