You can see that the majority of the signals on this chart says Thurs will be an up day. But I think its a fakeout. Here are my reasons:
1. The overall trend is still down
2. The global economy sucks
3. I think the report from china was a 'relief' rally
4. The ADX black line isnt showing reversal territory..its still over 15 at 26.24
So I took a stab at it and bought a put. Could the market go up tomorrow? Yes it could, and I have ways to deal with that. For now, we wait until tomorrow.
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