A Metaphor for the Market

After several days of bouncing, followed by today's sharp rally higher, the market is once again back at a critical technical juncture. I will discuss this idea after the closing bell in my video market recap. In particular, Facebook looks to be a metaphor for the market, in some respects. On the daily chart, below, you can see that since I covered my short a week or so ago the stock has bounced back up to what should be a difficult level to immediately plow up through. Of course, the wildcard here is that we have another V-shape rally to fresh highs. Still, I expect shorts to at least put up a fight in the coming days at these important levels. More on this after the bell. See you there.