Today, the market was definitely bullish. After an initial rally and pullback, it continued up the entire day. But the VIX is still negative showing that investors do not trust this rally and keep buying hedges. They expect this rally to fail again. But it may be tricky. They may get squeezed and we may see a short covering rally. Today, the market could have been a short covering before the weekend, though. Next week will show more. We are however seeing the market creating a base – a good sign for the near future. If we see a rally confirmation next week, I would expect a rally continuation.
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