Evening Star NEGATED!

Yes, due to the 186 points follow up (albeit on slightly disappointing volume) on the Dow today, the Evening Star signal formed last week is now totally negated, taking with it the double bottom as well as the continued bear trend scenario. Does it mean that the market is ready for a rally? Not yet... we need good Jobs and ISM numbers this Friday in order to defeat the pessimism that is still hanging in the air. Oil also went into a relief rally today as it gained over 4% without any strong reasons (the drop in oil supply was lighter than widely expected, so that should not be a positive for oil as it suggests that supply was higher than expected). So, hang on for the Jobs and ISM numbers this Friday!