As anticipated in last night's post, a Minute wave iv rally is probably underway sparked by the globally coordinated interest rate cuts. However, this rally in all probability does not mark a significant bottom and may last no more than 1 to 2 days.
For the Dow upside targets are 9989, 10159 and 10330. Most likely 9989.
For the Qs upside targets are 36.69, 38.05 and 39.41. Most likely 36.69.
Only if 39.5 in the Qs and 10365 in the Dow are exceeded could we conclude that the downtrend may be reversing.
Don't panic out of solid shorts, but scale out of your profitable positions in anticipation of another shorting opportunity.
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