The backlink model is still in play. It suggested an AM pop which will peter out by likely 10am and then reverse strongly downward.
Either the red or blue paths can be taken but you will know that the model is correct if the chart breaks below 4658. If you are planning on piling on major short margin like I am, the trigger for doing this safely would be a break below that level. So you wait for it to break down and then sell the next significant bounce.
Tuesday, February 3, 2015
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