The market tumbled a little on an increase in unemployment claims. There is a volume support ledge near 1082.50, but we are also well below yesterday's Point of Control near 1093.75. We are also currently just above the 50% correction level of the last two-day up wave. We will have to wait until after the open to see if the 50% correction level and the 1082.50 area holds as support. If it trades through this support, it will then become resistance.
Charles
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