My readers normally have a pretty good read on the market and have been right more often than not judging by my sentiment polls. According to this weekend’s poll, 58% are currently bearish, which has flipped from bullish.
This is either the last pullback before they rip us higher, squeezing every last bear, or the start of something a little more serious.
I’m inclined to say buy the dip here with the futures down 8, but under 1500 all my bets will be off. Here’s a 30 min look of the S&P futures:
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If the dip is bought here are a few names I will be watching: AMZN, MSFT, ZNGA, FB, & YELP
However, on a move below 1500 I will look to raise cash and possibly take a look at EDZ.
Good luck this week.