I'm leaning more in the direction of your prediction being closer to true than seeing a red day as predicted by another person (no insult intended C-20 - I respect you and your qualified your opinions). I think that too many don't want to be on the sideline through the weekend. Seeing this kind of action above the 200 sma is too enticing not to want to be on board for many. Couple that with what's been causing the steady incline in share price of late and the need for shorts to cover and I just don't see there not being a rally. I could easily be wrong and will have no problem saying I was wrong but at this moment, I just don't see it.
So often when you see an early morning rally followed by a pull back, that often squashes the momentum but what we're seeing right now is a STRONG momentum (read volume) and that bodes well for us Longs. There will be a red day in our future, there always is, but I'm not seeing it today. The day is early though, and I am fully capable and willing to admit it if I'm wrong.
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