As the US session drew nearer the closing bell, the S&P 500 prices weakened, and the risk-off bias continued throughout the Asian session. China's central bank reverse repo rate cut was overshadowed by poor Australia jobs data.

In light of the above, it's encouraging to see that the S&P 500 recouped its overnight losses, and is rising strongly. Encouraging and not at all unexpected, that is. The technicals remain arrayed behind the stock bulls, and in today's regular Stock Trading Alert, I'll show you why I think that yesterday's down day in stocks is merely a daily setback and nothing to worry about.

Our open long position remains justified.

Thank you.

Monica Kingsley
Stock Trading Strategist
Sunshine Profits: Analysis. Care. Profits.