The 7500 bounce is more bullish than if we would try again for 10K from here. Sure, we might touch it or even break it, but we need to crush it. Leave it behind us. Convince the new money. That is not done by crawling from 8.6 to 10. That is done by a 'flash-run' from 7.5 (-ish) to 11.6.
By going down, the market gathers energy, shakes of weak hands, becomes attractive for smart money. Need to get some shorts in, so we can squeeze them dry to keep the run going. That's how I think we will roll.
The 7500 bounce is more bullish than if we would try again for 10K from here. Sure, we might touch it or even break it, but we need to crush it. Leave it behind us. Convince the new money. That is not done by crawling from 8.6 to 10. That is done by a 'flash-run' from 7.5 (-ish) to 11.6.
By going down, the market gathers energy, shakes of weak hands, becomes attractive for smart money. Need to get some shorts in, so we can squeeze them dry to keep the run going. That's how I think we will roll.