We got a 50% correction of the overnight uptrend wave, which is normal. Market found support at that point.
When the $TICK trends, it is normal for a correction to develop. Wait for the $TICK to go above the EMA's on downtrends for possible shorts, and wait for the $TICK to go below the EMA's on uptrends for possible longs.
A view of the 1 minute chart market structure analysis.
The market is favoring Discretionary Stocks over Staple Stocks; however, Financials are relatively weak (not shown).
Charles
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