Today's NYSE Advance - Decline Line is lower than yesterday's indicating some profit taking of long swing traders.
The market has found support at the 33% correction level of yesterday's range. We are getting a more narrow range than yesterday with resistance just above yesterday's high.
If we stay in this narrow range, we will get a balanced day, in which look for a possible breakout tomorrow. However, tomorrow and Friday should see reduced volumes as Americans start thinking about Thanksgiving and Black Friday.
Charles
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