If the market opens weak than we know that rally to the 50 sma was a fail.
Then risk come back in.
Even in a bear market.
Market can't go down everyday.
There are always days that bounce higher.
Today was one of them.
But chasing without confirmation is very risky.
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Tomorrow's open is really important.
It's going to dictate what direction the market will take before the FED Meeting.
If it opens strongly higher that's going to mean the squeeze is still on. That going to be a bullish signal for trading stocks long for bounces.
