The market has been very oversold. That's the reason we correctly predicted an upswing to test 2100 a few days ago. A very high probability is the market wants to move to the opposite direction and take out all the stops before it heads back to its original course which is downhill. Our general view is still range trading with bearish bias.
It's not a secret that 2100 is an important line that everybody is watching. NAZ is above 2100 and today's action is more than a retest of 2100. Tomorrow, bulls will try to push bears off the edge. Momentum players will help this effort. If NAZ can stay above 2100 after July 1st, we will get ready to join the bull's party. Otherwise, we will stay on the sideline and get ready to short once NAZ breaks 2100.
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