Toni Hansen writes that intraday on Wednesday the market is fairly extended going into the morning, which is going to add some risk for new shorts out of the open.
Toni Hansen writes that heading into Tuesday, we have a number of economic reports coming out, including the fourth-quarter gross domestic product data, which could affect morning trading.
Toni Hansen writes that outlook into the weekend is bullish but choppy, but she would like to see another hour or two of correction off Wednesday highs to form a better base before it breaks higher though.
Toni Hansen writes that the intraday bias in the market heading into Friday remains strong. Plus, the three day weekend means the odds are higher that the best trading is going to take place in the morning.
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