There were massive paper sell orders on the cash close right on 4PM by MS, JP, GS, Chi Corp (used to be ABN AMRO as a lot of people have been private-messaging me asking what Chi Corp is). I counted at least 2000 cars sold (roughly 500 cars each) on the cash close. This is not a good sign for tomorrow. I suspect the institutions are expecting (or already known through their contacts) for a much worse than expected GDP estimate revision.
So we expect another down day for tomorrow?
However, according to Cobra, now there is a pattern formed that on bullish reversal day followed by Dark Cloud Cover, which happened previously that indicates tomorrow will be a up day. Let s see.
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