Analysis:
Yesterday's Analysis predicted that "unless the market can immediately reverse itself tomorrow to close above 1,131, the Bears will be emboldened and become very aggressive in attempts to push the market below 1,088." Today the Bears did not give the Bulls that opportunity to be emboldened, and the market recovered the previous three days' cumulative losses to close higher. This week has seen an epic battle between the Bulls and the Bears, the the Bulls had an upper hand. Looking ahead to next week, the market will find positive news to embrace and continue to rise.
Strategy:
Exit short position
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