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Dead cat bounce number 2 is upon us

While futures are higher tonight - we are in a trading range from 2400 to 2620. All we are doing is testing the upper range. Until we see significant news on the pandemic, it's just going to once again get rejected - and I think we will just bleed from that level throughout the night.

I dont doubt that we have a rally when things look more positive with the virus - but the bearish case has to do with the structural damage underneath. There will be no V shape recovery. We will NOT go back to normal, not for a long time.

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