The market corrected had corrected as expected and today's pullback is the strongest one-day pullback since early November. Given how overbought the market is, there is plenty of room for further downside. However, since traders are still high on positive sentiment, we could see a rally back to the top as long as the Trend Average remains bullish. I ended closing my shorts for a nice profit and will again go short again if I see a favorable bearish pattern or long on a good risk/reward set up.
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Short Term Trend = Bullish
Medium Term Trend = Bullish
Long Term Trend = Bullish