Here we see the transition pattern mentioned in the morning briefing playing itself out, as the intense selling from 9/1 dried up and now has led to an influx of buyers today. As a rule, the longer it takes for the market to bottom, the greater the subsequent rise. That is partly due to the fact that more shorts become trapped after extended bottoming, contributing to the market's upthrust once buyers enter.
Note how the weakness in the U.S. dollar has played into the pattern: when we see intermarket themes cooperating with a setup, that gives us greater confidence in the trade.
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