I haven’t been posting much because I’m working on an automated futures-trading program. It’s coming along nicely, and I will be spending a lot more time on it in July.
The bulls staged an impressive reversal Tuesday afternoon, and stole the month from the bears in the final seconds of play. In June, the bulls managed to rally the SPX by a whole 0.18 points.
The fact that the close for the month was a photo-finish may indicate that the forces of supply and demand are now in balance. It may also show that the bear army has become a credible threat to the Bovine Empire. The rally-leading XLF was down for the month, so the bulls already have a casualty.