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Heavy Residence Still Exists Ahead, So Proceed With Caution


A classic bullish day after a slow start, the market caught a bid in the afternoon session, as the Dragon took flight into the close. Resistance of 2000 and 2015 were both breached, signaling new strength in the bull argument. The short squeeze is on, for now. The only way to manage risk, especially in this market is to set and keep stops, even if they get triggered. Heavy residence still exists ahead, so proceed with caution, and watch the Vix.

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