Doomed Rally or in the Valley of Death

Meta help weigh on the rally today, as did strength in energy. I expected a slow-grind rally though, with a pullback possible. Bears will pile into puts on the market on sharp spikes higher, and fast rallies are short squeezes without support. To get a extended rally will require keeping bulls scared and bears confident, which can be done on days like today where bulls end up flat or down after the early morning pop, and bears end up flat to a little higher on the day. Do another pop tomorrow, repeat and so on for a couple more days and then a substantial technical base can be put in with many people mispositioned or on the sidelines.

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