Intraday market activity is exciting today. The bulls are not going down without a fight. After a strong gap down the markets pulled a reversal on solid volume compared to yesterday, not unlike the Friday the 16th action. Difference here is that the SPY 50DMA still lies up ahead, and that’s when the real fighting will begin. Some individual names (stocks) are superstars, but again, the risk of a market downturn is high. Keep the cash dry and we will regroup after the close.