Not even attempting to extend higher isn’t itself bearish, not without it also breaking under a relevant support. Attempting to extend higher and failing that attempt can be bearish, because…
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Meanwhile, we’ll expect upside behavior to match corrective bounce characteristics, and monitor downside for any accumulation behaviors. We’ll also monitor for patterns that project either. For instance, Wed’s A.M. rally…
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Despite Globex’s upward slope and distinguishable higher highs and higher lows that resemble an uptrend, it is not a rally. Price remains under all relevant resistance, including Tue’s opening highs,…
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Mon’s late dip went out at the 5-stager pattern’s minimum objective (retrace stage-2 to 7690). The alternative stage-5 objective (retrace deeper to stage-1’s 7678-7681 origin) attracted overnight’s decline to and…
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Fri’s last 3 minutes into the close had overlapped the open, dismissing any requirement to extend higher. That’s not why the market reversed down overnight, although it likely contributes to…
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Thu’s flat close at its 5699 open offers an opportunity for a sufficient gap up not to create unfinished business below at the gap-fill back down to Thu’s open. Anyway,…
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perhaps also on the ECB rate policy decision. Globex’s rally into Europe’s opens may similarly reflect pre-PPI and/or pre-ECB optimism, which can be bearish from a contrarian perspective — especially…
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Now we know it also left the market vulnerable to negative catalysts (for example, overnight Iran headlines that triggered that reversed test of 7688 resistance into a collapse testing the…
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The rally from Wed’s pre-open retest of Tue’s low was leveraged by the impending 3-day weekend illiquidity. The character of Wed’s and Thu’s rallies undermined their durability — A.M. window…
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