We may get a real bounce now. While everyone thinks we have just had a correction, I am concerned that we could get a brief rally that fails and completes a major top. So I remain skeptical until the the market reveals its true trend. If this bounce holds for a while, I would watch NFLX carefully because it has held up very well during the decline. Gold mining stocks and GLD also look like they may be ready to rally. They keep coming up in my bounce from oversold scan.
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What indicator led you to conclude that we were going to experience a bounce?