Yesterday's action was incredible. Not only did we break above the tight descending channel we were in, but the indices, all indices, were simply relentless in their drive upwards: smashing against the upper Bollinger band on most intraday time frames. It was a good idea to take the little profit I had on my shorts and then simply stop: a better idea would have been to flip side but finding a comfortable point of entry was basically impossible.
Momentum is on the rise, and even on the daily charts is about to get back to positive. I am not sure we'll have a good dip into which to buy, so I'll be looking for long scalps or an entry point where I can. That said, given yesterday's surprise anything is possible.
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