The market is staying a little less than 4 points below yesterday's Point of Control. We are also staying within a relatively small range, which is common following a wide range day. We got a bullish divergence in combination of a higher low to set up a long trade after 1020 ET. As the market approached the previous Point of Control, we then got a bearish divergence. The market is now going to test the day's low during the low volume lunch time period.
Charles
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