Tomorrow is friday. In the good old 2008 and 2009, it was very often sell off fridays.
So for tomorrow i would watch for the DOW to test the 11,100.
If right after the opening bell, it goes under 11,100 watch for 10850. If it dows not hold, we could be retesting the lows of wednesday at about 10,700.
This market is still very sensible to any kind of news and we do not know what week-end could bring.
Because of the fact that (i think) there is a 2 for 1 probability of a down leg tomorrow many traders could be tempted to liquidiate some positions in case of an early morning rally. So if you bought some at a very cheap price yesterday or early today, WAIT before adding some to it. Tomorrow could still be very tricky and honestly i do not think that volatility is over nor this is a rally starting. Too early and no capitulation YET !
So for tomorrow i would watch for the DOW to test the 11,100.
If right after the opening bell, it goes under 11,100 watch for 10850. If it dows not hold, we could be retesting the lows of wednesday at about 10,700.
This market is still very sensible to any kind of news and we do not know what week-end could bring.
Because of the fact that (i think) there is a 2 for 1 probability of a down leg tomorrow many traders could be tempted to liquidiate some positions in case of an early morning rally. So if you bought some at a very cheap price yesterday or early today, WAIT before adding some to it. Tomorrow could still be very tricky and honestly i do not think that volatility is over nor this is a rally starting. Too early and no capitulation YET !
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