Buy the dip is back in style | Forexlive

Today looked like it would be a good day for some profit taking and there’s certainly angst ahead of quarter-end rebalancing but the bulls aren’t showing much patience. It looks more and more like many people have missed out on this rally and are looking for any dip to buy.

Ryan Detrick today points out that when the S&P 500 is up more tthan 10% YTD as of the end of June, the final six months are up a median of 10%.

Bottom line, a strong first half usually means a strong second half, with average gains of another 10%.