A strong bounce off the 55 ema as the bears scramble to take profits on the 20 point drop at the open, and rally into resistance.
Price remains most definitely still in the bearish area as the important averages start folding over.
Another trip down seems likely, perhaps kicking and screaming, as the market seems reluctant to give up the February gains.
Be prepared for whatever comes next:
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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.