The July 3 to 5 rally (which was very profitable) came from a weak bottom, and at the time, I was complaining that because of that the rally will be "puny", since we had no good sentiment indicators (like big strings of GNT etc). The rally from July 24th on was based on a solid few week of very negative sentiment indicators and thus would call for a much stronger rally, once it takes off. The print today above 1350 is just a shot above the bow of the bears den, even though, a retracement is a high probability. Playing this on the dark side will require being nimble, IMTO.
Zeev
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