The market is testing the overnight low. Yesterday's volume distribution formed a "B" shape with the upper section the Point of Control. The market is currently below the control point, but above the lower volume ledge.
It would be natural for a 50% correction of yesterday's range, but a correction more than 78% would be bearish.
We still have the Chicago PMI at 0945 ET and Consumer Sentiment at 0955 ET.
Charles
No comments:
Post a Comment