9:00am (EST)
The bears are pushing the 50-day MA’s (moving averages) and the July lows but we mentioned yesterday the indexes are still in a trading range. There could be a little more downside action if there is not a rebound today but the bulls still have some wiggle room before we would push the panic button.
Of course, if there is a continued pullback, DON’T be nervous to play a market correction because you can make just as much money shorting stocks and the market as you can to the upside. (continued…)
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