Market strong reversal caught sellers off guard and probably triggered “shock” covering that gave fkli its premium. After discounting DJ Fri’s loss, the mkt decided to take a fresh bet, betting on DJ rebound tonight amid strong signal from DJ futs and feel good SH factors - manufacturing expanded at the fastest pace in 18 months and strong corporate profits eg SAIC Motor, Industrial Bank Mkt escape breakdown today, but the mkt has yet to turn +ve. The big white candle looks imposing..could probably hold back bears.... but the fact remains the mkt under the horizontal resistance(56.5) and the short term downtrend line. Unlikely to see big moves tomorrow.
Above 40, no need to sell. Focus on long is above 50.
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