Pullback into a double bottom? Maybe....

A double bottom is a chart pattern that technical analysts use and it is usually a bullish sign. I am hoping this recent pullback in the market will form one of these. In which case, I will deploy more long positions, especially if the vix continues it's upwards march. C'mon double bottom.....

7 Reasons I'm a Little Bit Bullish

1) Fannie Mae / Freddie Mac just set higher loan limits which should be good for the mortgage/housing market.

2) US dollar strength causing people to get more constructively bullish for the time being, although many think this is just the weak Euro causing the $ rally.

3)When I look at moving averages of Financials & Consumer Discretionary groups, I see 21 day averages about to pierce through the 50 day on the upside, which is indicative of an impending pop.

4) Very strong Health care action, specifically in Bio tech and Devices, in a down tape.

5) Commodities have come off their highs which can possibly put downward pressure on already high inflation going forward.

6) I have read that there are more people betting against financials now than there were people betting on Technology in 2000, and we all know what happened to Tech after Y2K. Can you spell "Short Squeeze," please?

7) This past Tuesday, a very large put trade went off betting that the Vix will decline. Someone is making a very big bet that stocks will rally.

Only time will tell if my reasoning will bear any fruit, but I am waiting patiently for them to ripen.