Many Central Banks around the globe are reducing rates, and the market is probably expecting the Federal Reserve to do the same tomorrow. Shorts are moving out of the way for now. Also, the last few days of October are historically bullish.
As the futures has been testing bottoms for the last few days, the Advance / Decline Line has been making higher highs and lows each day. The coiled spring in the futures sprung to the upside.
Charles
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