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A trend line a bull’s gotta love!

If you have bullish instincts, why not trade this support line (drawn on a chart of the S & P 500)?

Notice that both the March and April lows sliced right through the 50-day moving average with no problem, but that sweet recoveries ensued anyway. Re- tracing to the support line now would just about hit the 50-day at 1324. Good trading opportunity for the bulls, with tight stops below the 50.

On the other hand, if you’re a bear, you are probalbly fulminating on whether a giant head-and-shoulders is forming, with Armageddon to follow! . . .

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