Wrong call on putting out shorts yesterday. Sorry for those who followed, I also cut quite some losses.
Market is still expecting something from Bernanke tonight. Like some stimulus plans - QE3?
But at the same time being cautious too after many disappointment in the past.
The chart development in DJI looks bullish for now, and for might not follow the bear flag that I previously mentioned about.
It looks like a dump then pump effect.
DJI next level to watch out will be 12650 resistance. That will really depend on tonight's speech.
Personal opinion will be that the market is going to move much higher - seems like the condition is changing and the BBs seems like they almost done with their shorts covering and enter some longs already.
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