Markets never want to give the “easy” set-up. Most traders were hoping for a gap down to buy, and some for a gap down to cover remaining shorts. We closed below the 1340 level in the S&P yesterday, and that seems a bit more like a trap for now, but we will see how we trade in the first 30-60 minutes. Yesterday was a tricky day as we were mildly oversold but not extreme. Stocks seem have…
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