I wrote this up yesterday, thinking a 5% to 10% move was possible, but sheesh, 5% all in one day! I'll take, I was already long.
To me the bearish sentiment is high. Even the bears are thinking, just one more minor move up, and then Whammo, Rhoo Rhoo even a Scooby Snack won't fix this one.
Sure could be, in the past Dabama speaking is not really good. Early in his presidency, Wallstreet taught him that if he didn't say the right thing, they just pull the bid and let the market fall under it's own weight.
But I think any reasonable sounding "deal" could result in a stress relief rally. And some longs with good breakout and backtest patterns, in growth sectors (rare earths for upcoming batteries and energy technologies, esp. as China restricts their exports of rare earths), could get a nice 5% to 10% pop in just a matter of days or a week or two.
However, don't follow my trade unless you have consulted your trusted accredited financial adviser.
Here is the result
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Insightful and Useful Comment!