JPM and the bounce

A JPM bad news induced gap down, if bought aggressively will show that there are buyers at this level.

In last 4 trading sessions there have been several attempts at a reversal but they have not been very successful. A oversold bounce that does not stick by end of the day is a sign of weak buying pressure. That tells you a lot about the market.Today offers another opportunity for the bullish crowd to take a stand.

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