Short term indicators are back to neutral and so the bull might make a stand here like they have been doing for the past 2 months whenever getting ST neutral. We haven't seen a ST oversold reading ever during this rally! It's been that strong. I believe however any rally from here will not lead to a new leg up. We may just retest or marginally exceed the highs.
If the bulls can't hold here then 885 will be the next stop and the rally would be offically over in my book...no doubt there would be bounces but they probably would be contained.
Should be an interesting next couple of days...I will be looking to play whatever side I feel will prevail....I think the bulls will prevail because the sell off we seen so far this week smacks of normal profit taking due to how markets immediately went into the red from the open. We'll see.....be careful out there.
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