Today's bounce is stronger than I expeced. Short term trend is up. I mentioned during the weekend update, that to validate the mid term bearish scenario, the bounce shouldn't break above 2120 (for Nasadq), and 1057- 1062 for ($SPX).
Those two levels were take out today. This made my mid term view to be neutral. Why not bullish?
1. Today's strong move came with low volume.
2. $NASI and NYSI dropped and didn't confirm the up move.
3. $VIX still hold around its daily 20MA/20EMA.
Need to see tomrrow's action to get better idea.
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