UPDATE

The gap down and rally this morning looked very bullish, but the market wasn't able to close at its highs. In fact, there was some selling into the close. Tomorrow could be a critical day for the bulls. The market needs to show some buying strength soon or the market will roll over and make another move down. I'd like to see the S&P 500 get back above its 50 day MA before I get more bullish. The 50 day MA is currently at 1326 and the S&P 500 closed at 1320. All eyes are on the jobless claims tomorrow. There are some great potential bullish trades out there if the bulls can get control of the market. If the market can't rally tomorrow, look for it to test that 1295 area over the next week. NFLX and VMW have done well. The other bullish trade recommendations still look good if the market can rally.