Market Outlook

Support at 788 rebounds, target near 83
After breaking below 794 yesterday, it dipped to around 788. I mentioned in the group that the 788-785 range is a rebound zone, hitting the upper edge of the range I provided.
Nevertheless, I didn't take the long at 785.
The reason I didn't enter long at 788 is because 794 and 788 are too close, and I want to avoid frequent entries leading to consecutive stop-losses. The risk-reward ratio at 785 is better (if it gets filled).
The above is a review of the missed trades and contract-level missed opportunities for tonight's rebound.
In terms of the market, it has now dipped to the 82 level. The target above has always been 83-84, with a peak at 85. It is approaching again.
Before reaching 83-84, the pullback after reaching the zone is a bullish logic.
If the 4H chart stabilizes above 84, we could see higher levels; the logic of hitting 85 is just a false breakout followed by a pullback.
If it reaches 85 but the 4H chart remains above 84, it is not bearish.
The main reason not to short is still the strength of the US stocks.
Although there are reasons to be bearish (such as inflation, no rate cuts, etc.),
the confidence isn't very high, and just avoiding trading confirms you won't be wrong.
The most certain approach is to wait (if) for a deep dip to buy the bottom.
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