Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
Unfortunately the big gap down was once more defeated as someone came in with guns blazing in the 40 minutes after I did the 8:30 post to get futures back down to very small losses at the open. While still oversold on a daily basis the “emotional” type of down open that looked possible at 8:30 AM no longer is in play.
Now we will see if the dip buyers get punished, which could be a secondary way to create an emotional type of selloff.
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