highlowpoker| BTIG says bulls clearly control the U.S. stock market

According to BTIG Research, pessimistic investors basically have only one key level left to defend before the bulls take full control of the stock market.

Jonathan Krinsky, chief market technical analyst at BTIG, said U.S. stock bulls were "clearly in control."highlowpokerThe S & P 500 index is above its downtrend and 50-day moving average.

He said there is only one number left for short sellers to remain below the broader index: the 76% mark of the S & P 500's recent declinehighlowpoker.4% retracement level, in which case the S & P index will be around 5191.

"Obviously bulls are thriving in this market," Krinsky said.