Analysis:
Yesterday's Analysis predicted that "the market will recover the losses since Thanksgiving towards 1,200." Today the market recovered all losses since Thanksgiving to close above 1,200. Looking ahead to tomorrow, China's Q3 GDP will demonstrate that its restrictive monetary policy will not derail China's fast economic growth, and the ECB Governing Council will reassure the market on its commitment to an accommodating monetary policy for as long as necessary. The Initial Jobless Claims will confirm the continued downward trend in the four-week-average Initial Jobless Claims. As a result, the market will rise above 1,210.
Strategy:
Hold long at 1,197
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