The market stabilized at the 10-Day Average Distance that it travels from the 0930 ET Open. By the close, the market traded back up to the continuous pivot line.
If there is a late day rally in this bear market environment, it has been my experience of late that it will occur after 1530 ET. By this time, most of the mutual and hedge funds have completed their liquidations for the day, which allows technical bounces to occur.
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