***Sorry, I forgot to hit the submit button yesterday. Here is yesterday’s piece.***
The first day of a long awaited pullback is hard to buy. Maybe another day or two of down side action would set up a better trade. IBM earning came in a bit below the whisper number and is getting sold. Europe is still scary with a resolution now pushed back to this weekend. Without a news catalyst, further selling tomorrow at open may set up a quick intraday fade for the eager dip buyers. Likewise buying at open will likely invite sellers.
