Well this is a tough one. The euro has turned around and is headed south again and the Asian market is lower on concerns over the "Greek TARP" (which I will call the GARP). Also all three futures are down right now, though not by all that much. The ES is off 1.5 points from the close.
So I took the daily Dow chart and went back ten years looking for cases where we had a big down day that formed a hammer that took us down below the lower Bollinger band and was followed by a big up day. I found ten instances of this. In 9 of the 10 next days, the market was up by a small amount. (In the other case, the market formed a small doji, closing virtually unchanged from its open).
So unless the Greece fire flares up again tomorrow, I'm simply going to call for a small range day tomorrow. Technically, it looks like the close should be up, but with the VIX still almost at 30, I just don't have the hubris to make that call.
I'm actually looking for an opportunity to get into SDS to insure the gains I made today, but I don't quite see it yet on the daily chart. Hopefully the picture will become more clear after tomorrow plays out.
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