The bottom line, the short-term trend is up, I hold partial long position overnight.
A strong up day like today almost guarantees an immediate higher high, so although, officially, a follow-through tomorrow is still needed in case of reversal of reversal of reversal, but judging by today’s strength, I won’t hope much about such kind of reversal of reversal of reversal tomorrow. Rather, as I’ve been saying, a decisive breakout above the consolidation area means bears may have to find the next consolidation area before considering any possible counterstrikes, until then better stay bullish for short-term or at least on the sideline.
Disclaimer
The information contained on this website and from any communication related to the author’s blog and chartbook is for information purposes only. The chart analysis and the market recap do not hold out as providing any financial, legal, investment, or other advice. In addition, no suggestion or advice is offered regarding the nature, profitability, suitability, sustainability of any particular trading practice or investment strategy. The materials on this website do not constitute offer or advice and you should not rely on the information here to make or refrain from making any decision or take or refrain from taking any action. It is up to the visitors to make their own decisions, or to consult with a registered professional financial advisor.
This websites provides third-party websites for your convenience but the author does not endorse, approve, or certify the information on other websites, nor does the author take responsibility for a part or all materials on the third-party websites which are not maintained by the author.
