The market retreated from a multi-day high, but didn't close the opening gap. It closed just below its Point of Control.
Let's examine a 1520 ET trade opportunity. A small example on how to read the intra-day market.
- The market was negative all afternoon, and below the VWAP Line.
- At 1520 ET, the market completed a small 3-wave move against the afternoon trend.
- The NYSE Advance - Decline Line was weak relative to the Futures.
- $TICK indicated a bearish divergence.
- The market tumbles.
Charles
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