The market came within a half a point from the overnight low before bouncing to the upside.
We got 2, 3-wave moves this morning, both with a 50% correction. The 50% corrections ended near the 1.5 standard deviations around the 50-period EMA of the $TICK's (H+L+C/3) pivot.
Bullish momentum is weakening with the NYSE Adv - Decl Line making a lower high, and TRIN above its 10-period MA.
However, we do not have a $TICK divergence yet.
Charles
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