This morning the market did what I thought that it was going to do yesterday, and that is to test the 1084.50 area. We got a nice symmetrical bounce off that price, but the market is not strong enough to go past 1095.25.
As I'm writing this, the market is testing yesterday's close with what looks like a $TICK bullish divergence. However, the small caps and Advance - Decline line have made a lower low at this point. And now, the ES futures has slipped past Yesterday's close and testing the overnight low. A failed $TICK divergence foretold by the small caps and the Advance - Decline line.
Charles
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