Thursday, January 23, 2014

Quick Market Update

I still think we'll get a corrective bounce, but the market is still weak.

XLF 1 min has a good basic chart that shows why we should expect a bounce, but even as an aggressive trader, I wouldn't try to trade it.
There's a more recent 1 min positive, there have been some more recent positive divegrences since about 2 pm and we have a rounding process about the right size. To reiterate though, this is still one of the weakest positions for a bounce in to the gap I've seen.

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