The stock rebound is unfolding with the internals it should have, credit markets support that, and the bulls have the opportunity to show us what they're made of. The sharp correction of recent days indeed appears closer to its end that its beginning - in terms of prices.

Trading position (short-term; futures; our opinion): long positions (100% position size) with stop-loss at 3275 and initial upside target at 3450 (once it's reached and prices move to 3460, then 3450 becomes the new stop-loss) are justified from the risk-reward perspective.

Thank you.

Monica Kingsley
Stock Trading Strategist
Sunshine Profits: Analysis. Care. Profits.