In the 30 minute chart above, the top chart is the (H+L+C)/3 pivot (Blue) of the ESU08.D contract. Yesterday was a short term cycle buy day; however, the market remained below the 38 period SMA of the 30 minute pivot, which is a negative.
The second chart symbol is the same analysis for the $TICK. Both moving averages of the $TICK pivot are remaining below the zero line; another negative.
Charles
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