We do have a more narrow range today, with the market spending most of today staying in the bottom half of yesterday's Value Area. Any bottoming process, if that is what's happening today, can be frustrating. The market will keep testing the lows until there are very few sellers left.
Today I see more bullish divergences than bearish ones. The $TICK moving average on the longer term chart is making higher lows. I expect the market to stay in this narrow range today. Next week is statistically bullish.
Charles
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