Play Editor's Note: The market's huge bounce this afternoon has created a wave of bullish reversal patterns in the market. You can find them everywhere. They're called "hammer" candlestick patterns. These patterns usually need another day to confirm the reversal. We believe the market is poised to bounce higher especially now that we have had our first 10% correction in years. Instead of jumping in tomorrow we're going to wait until the weekend newsletter. The reason why is that tomorrow could still be very volatile with August option expiration.
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