Today was rally day. Again, nobody should be surprised because you read about a bounce here or viewed yesterday’s video where I spoke about it.
The question is how long and how far this bounce in the market goes before we see more selling pressure. This is certainly discussed in today’s video found below.
The pundits spent more time today talking about Apples bendable phone than they did discussing the market. Mainly because they didn’t have a clue why the market was in rally mode.
For us it’s simple, we had an oversold condition that needed to be worked off. Whatever reason they want to create after the fact is fine with us. We just keep trading is accordingly while we laugh at the “professionals” on Tout TV (CNBC).
For what it’s worth, it was a pretty standard or garden / variety rally following the type of decline we had.
Watch the video to get all the details and where we go from here.