No unfinished business outstanding above because the early surge gained no traction for its effort, and also because its steep, deep reaction recovered in time. But the isolated weak-handed A.M….
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Correcting the Iran headline had formed a falling wedge and it held just above critical 7550 support, before the pattern’s breakout extended the rally to new highs at 7583. Noon…
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As described above, fresh lows at 7517 probed under the 7522 A.M. window low during the cusp before entering the noon hour. Bouncing into the noon hour overlapped the A.M….
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The First hour Trax setup was barely productive up to 7555 before reversing down, to fluctuate around the open’s 7525 low. All of which is still developing at or above…
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The second half hour’s relentless 37-point slide back to the 7479 bias-up signal’s support was fully recovered as expected. Consolidating pessimistically short became a stalled trend. Backtesting its likely 7503-7505…
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Live by the headline, die by the headline. Wash, rinse, repeat… Part Umpteen. The Iran headlines Spin the Bottle game had greeted the open by stopping on a negative Iran…
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The Iran headline’s favorable knee-jerk reaction gained traction, by exiting the timing window above the structure containing Mon’s 7426 cash session close that the window filled. That structure’s 7428 high…
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Mon’s final hour bounce actually may have been more than a temporary detour from a budding break lower. Still bearish, but intended to create extra room to expend selling pressure…
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