Bulls run over the bear today

It looks like the bulls took over today(or was it short covering?), with a strong bullish engulfing candle in place for the day.The lows of yesterday held and that area is now considered support yet to be tested another time.So short term maybe the bulls can muster up a little follow through if today’s action was considered a reversal off the lows.Just keep in mind that even bear markets have pullbacks.Is this the beginning of a new bear market and the end of the bull?Regardless,today offered some good long opportunities.These markets are volatile and you must trade(intraday) what you see at the moment and not what you anticipate for the longer-term.So for now 12,000 has not had it’s true test,and I will play the market as I see it day by day,but eventually the bear will rear it’s ugly head and history will repeat it’s course as it always does.There were some great setups off of the 15 minute charts today using Fibonacci lines,and if I find some time later I will post a few.For now here’s the dow.

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