Thursday, March 25, 2010

Probably a Rally Tomorrow

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.  

1 comment:

Anonymous said...

probably a sell off tomorrow