Is there a reason?

People always try to find out some good reasons that trigger the market to run either up or down but in reality, short term moves are largely driven by sentiments and technicals. So don't need to try to find out why for either direction as it is just wasting your time. When the market is oversold, it will find an excuse to move up regardless and vice verse. As I said, the market was quite oversold last week and was due for a rebound. My target is towards its 50 DMA around 2736 which is very close with today's strong rebound. If you expect it to go much higher than that, you may likely be disappointed as the current rebound is likely still a technical dead cat bounce! As such I'm following my road map and the plan by taking profits today from most of my short-term longs as they are moving up so fast just within two trading days and with more shorts left in place now. Waiting for another selloff maybe started in a day or two.

As always, I could be wrong but I'm positive that this is what the market is going to do next for its major move!