Market pretty much did as expected yesterday; first gaining to 1330-ish and then sold off to ~1310. The last ~20min was though really interesting yesterday, the rebound from ~1310 to ~1320. My best guess is that short positions were covered before the close. Well enough about yesterday..
Today is going to be a tricky call, I blame the last 20minutes from yesterday because of this. Frankly speaking, I have not a single clue about today so we need to set price levels and watch intraday for clues.
Below I post DOW30 4h chart since it provides the most clear picture at the moment.
I feel that we need to be very open minded today since the picture is not at all clear. The key-level on above chart is what I’m looking at and then levels 12300 and 12200.
As a side note, the chart above is straight damn ugly. Bulls really need to step in and show that they are still alive and give them bears a good fight or this recent pullback is just foreplay..
