Last night I wrote, “The daily model is bearish today, but I am disinclined to short at the onset. Stand aside for now, and I’ll update later today.” “Well,” as Ronald Reagan used to mutter when he wasn’t sure what he was going to say, “Bad call on the daily model; good call as far as what to do with it.”
The daily model is likely to be bullish tomorrow, but it remains to be seen if it will gap or not. My index models are suggesting that they will not, so we will wait until morning to evaluate further.
Thanks for the opportunity to be of service, and I’ll email you again in about ten hours.
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