The market went through a roller coaster ride today to a higher finish. However, a 13.53-up close was not insignificant in this downtrend.
An article in the Business Times today quoted a near-term support at 2994. I concur to a near-term support around 3000 considering that the market hovered around that region for about 2 weeks last month and is almost within 3000 +/- 50 currently. In a further short term, I still would expect either a lower downtrend or a slow and steady climb from the near-term state if a bear market is to come.
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