Remember that Market Structure is the leading indicator. At 1050 ET, the market corrected 50% from a recent bearish wave. It is always a good idea to pay close attention to how the market reacts to the 50 - 62% correction points. In this case, the $TICK was indicating a bearish sentiment relative to what the futures was doing. We then got a quick reaction to the downside. Afterwards, we got another reverse bounce into the European close.
Charles
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