Yesterday was a break in the normal pattern. We started off the same. Nice gap and fade but we held support with no volume or selling conviction. As the day progressed the daily pattern fell apart with the market climbing. After 2pm the shorts saw it wasn't going to roll over and the market went bonkers. This appears to be a short-term bottom. Wether it is a start of a new bullmarket is yet to be scene being much of this economic fall-out hasn't been reflected in the numbers. The key will be if the economy can V bottom rather languish along. If we just stablize, then the markets will overshoot and set up for another test or susiquent low.
I am still just trading the move and not looking back.
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