Punch drunk and reeling, the bulls got up off the canvas and delivered an uppercut of their own today.
The approximate 1290 to 1230 range had a pullback today to the middle area (1260 +/- for any math challeged traders).
As Betelgeuse would say:”It’s showtime!”
One of the most important pieces of the puzzle is never addressed much in the textbooks: determining which chart is the most important on any given day.
Our system allows us to see today’s MOC high possibilty. If you know the secret code, you wouldn’t have been surprised at all when this magic threshold was crossed.
If you were shorting and got stopped out twice, remember to honor your daily loss limit to prevent blowing up your account in one bad day of trading. Be ever vigilant against the risk of ruin.
Buying cheap calls at the end of the day yesterday was one way to play this reversal. Trade them, don’t stay married to them.
Bear markets have vicious rallies, until the rally runs out of steam. Probe for the reversal with a jab or two, but be careful ducking into an uppercut.
End of month Showtime
Eminiwizard 