Price actions in the Dow futures are suggesting further countertrend move, which could possibly last weeks if not months.
Trading idea: Wednesday's pullback and possibly Thursday's can be a good opportunity for taking a long position. Futures is now trading @ 12,385. Between 12,345 and 12,188 are rather risk-conservative, with respect to a daily timeframe, for taking a long position. It shouldn't take too many days for this meaningful low pivot to prove its strength -- give it a day or two and we shall see optimism returning to Wall Street.
I will post more guidance when this pivot is working.
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