This is one of those days where the market proves that it goes down faster than it goes up.
One of the high probability intraday trades is on the test of the previous day's Point-of-Control or the price range where the highest volume occurred. The closest that today's market came to yesterday's Point-of-Control is about 3 points, and that occurred around 0850 ET.
After the 1000 ET report, the market instantly jumped down several points and kept going down until it hit 1043.25.
Charles
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