Today's bounce looks like a very standard bounce after three days of a strong move.
We can see that there is neither any positive nor negative divergence being formed between the 20DMF and the S&P500: the lines connecting different highs show the same direction on both panels.
Nothing really to do for now, except watching the stops and not letting a winning position turn into a losing one.
We could notice today that the commodities sectors rejected the shorts-covering bounce of yesterday. This includes the PM sector. The US$ and the Euro both confirm their change of trend: a stronger US$ and a weaker Euro.
Pascal
Pascal
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