We are now at a point where the market is revisting the October 10 lows, and this appears to be the test of significant importance. It will not really matter if the market blows through these lows tomorrow and closes below them. Of more significant importance will be how the market acts on Monday. No matter what the market does on Friday, we need the market to close higher on Monday, or at least set itself up for a strong Turnaround Tuesday. Nonetheless, if we trade through the October 10 lows on Friday, and we are still trading below them on Tuesday, this market will be heading lower for the foreseeable future.
Keep your fingers crossed!
Scott Cole
www.bestdaytradingstocks.com
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