Although these intraday reversals look nasty and you would think there would be follow through for the following day, usually there isn't. We are in a topping process, we probably will revisit 1170 and maybe even up to 1175, but that will be a golden sell opportunity. I have gotten out of my short position, and I expect intraday strength on Friday. I am not sure what will happen overnight, we'll probably gap up a tad, but not a strong feeling.
P.S. - If we gap down under 1156 tomorrow, that would be very bearish for this market.
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1 comment:
probably a sell off tomorrow
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