Yesterdays move in global equities caught be me flat footed with the combination of positive news from India and buying from "long-only accounts not being long enough" created strong buying on the first support level from recent high. This surely puts the ball back in the bullish camp and the charts again looks more and more like a 2002/2003 replay which would lead to a rally into mid of June from here. See below.
But it is Tuesday, so maybe a turn-around to the downside could come. It will surely be needed to keep my negative bias in the short run.
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