After the bloody hit the Dow Jones took on the 25th anniversary of Black Friday, the US index formed a large bullish pin bar, and a fake out in the process. This could very well have trapped traders short just below the 13300 support level.
What I am noting is how the DJ recovered all of Fridays losses in2 hours. This is a quick change of sentiment and unlikely to be reversed short term, so I will watch for pullbacks into the 13300 level, targeting 13425 and 13500 with tight stops below.
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