The close we saw today is telling us to look for early strength tomorrow, but to use that strength to get short once again. The work remains fully in the sell strength mode.
With Apple's strong earnings announcement this evening after the close the market should follow the pattern of early strength, giving way to lower prices and perhaps sharply lower prices.
As for the action intra-day today, it turned out much the way I had expected with the early weakness followed by closing strength. Tuesday I think will be just the opposite, but we will take it as it comes to us.
Bottom line is to remain defensive!
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