Yesterday the market gapped higher in the morning and the bull trend looked healthy throughout morning trading. However, in late day trading it suffered a key reversal and indices sold off hard on volume.
This potentially marks a character change that needs to be carefully monitored.
Two likely scenarios to follow are:
Bulls refuse to give up the trend and after a shallow dip, prices will move back up to fresh new highs.
Or...
A top of significance was put in and prices will trade sharply lower in coming weeks.
At this point no one knows.
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