Even with a good earnings report from Wells Fargo and Morgan Stanley, the market still has a slight bearish tone. It is currently at or slightly below yesterday's Point-of-Control. Earlier the market did test yesterday's day session low as well as Friday's lower high volume price. The Wells Fargo news did lift the market a little, but not a whole lot.
Yesterday's Point-of-Control is resistance unless the market trades above it.
Charles
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