Bounce got aggressively sold

The Wednesday bounce failed very next day. That puts market back in extremely bearish territory by breadth. However extreme can become even more extreme.

I did not have any bullish position open coming in to yesterday so no damage to account. A failure to rally from a 4 to 5% correction as has been the case in last 24 months may indicate change of character.

We will see it is still one day and one setup at a time kind of approach market.

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