The Nasdaq and Russell 2K each rallied more than 1.7% on heavy volume to qualify for a Follow Through Day.
This means insititutional buyers are in support of this market. The path of least resistance should be up for now.
We’re not making any claims that the recent lows will be permanent, but merely recognize this end of of the year market environment as Bullish.
Only distribution through heavy selling or a collapse in leadership will chage our bias.