I wanted to discuss the broad overview of todays action. I stated in yesterdays update that I didn’t think bulls were done on the upside, and that the long setup would be if we were basing around 4260-80 in the morning. It was, and we had a chance today to witness the most powerful setup in all of markets - the fake breakdown. 4260-4280 was support of the famous “Head and Shoulders” pattern that lost Thursday, and when that was recaptured, we went into 100 point short squeeze mode. Typically, this is the sort of setup that marks *major* bottoms - but I do suspect bears take one more stab at this 1st. Here’s what I’m looking at
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