Pullback

As you might recall, last week I was expecting a pullback (slight) before a bounce and at the pullback lows we'd take a look and see if there's anything worth hitch-hiking a ride up with.

Forget just this morning's obvious continuation of the trail of a.m. weakness as a pullback, it's much easier to see if you look at the SPY 60 min chart with a line chart instead of bar or candle, the pullback has been sitting right under our noses.

Since last week when it was expected and continuing today, but we should be pretty close to a bottom for the move. I'll be looking around to see if there's anything that has a worthwhile risk/reward ratio.