Last week we broke down again before rallying into the close Friday. At 1072 we saw the 30 handle bounce back and now it times to measure the latest oversold bounce. Friday's rally served the purpose of relieving pressure and getting us out of very oversold conditions and now its time to reevaluate. A lot of people were looking for a 10% correction and we reversed at about 9%, which could have confused some traders.
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