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The same old story, on the day of debt auction, the market sold off and then rebound before close and the next day, it acted like nothing has happened by soaring to, perhaps, new high, even the next day’s auction was even worse. This has happened 4 times so far recently, I may not remember correctly, and I thought that this time should be different. Well, I was wrong AGAIN. looks like no differences.
Tomorrow if we have again another gap up open, it’d be the 3 days in a row that the market opens with an up gap. I really don’t know if the market will, after opening high, goes higher this time (which is unlike the past 2 days), since “the 3rd time is the charm”.
No idea tomorrow, so by default bulls should have the credit since this is a “bull” market. Yes, I do realize that today is the 4th Bearish Reversal Day on the SPX daily chart which is supposed to be bearish. But who cares, the bulls in my Chinese forum are celebrating yet another great opportunity of buying dips…