Wed’s attempt to extend the multi-session decline was contained through its open, as was Thu’s proxy attempt. That enabled the 2-Gap rule’s influence to the track price back up to…
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Ongoing ineffectual optimism had accompanied the multi-session decline while producing daily lower lows and lower highs. Iran headlines rescued Wed’s bearish bias-down in time to reverse its influence. Pre-NVDA optimism…
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Mon’s and Tue’s failed bounces and lower lows reflects ineffectual optimism, which is potentially bearish from a contrarian perspective. This includes the ineffectual optimism of Tue’s 7354 session lows stopping…
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Globex initially tried to extend Mon’s final hour rally, but its reaction has almost entirely retraced back to Mon’s late low. Recall the final hour was being entered on the…
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A couple of intraday uplegs didn’t prevent Fri’s expiration from ultimately honoring the 1st-15’s bearish projection of its brief yet discernible downtrend. The intraday probes above their prior highs were…
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Back above 7473 would start to signal the potential for that rubber band snap back up. Otherwise, back under 7448-7453 would target 7431, and anything lower would confirm an especially…
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At least an overnight retest of 7484’s borderline overbought RSIs was likely. That was replaced by the fresh highs’ complexity to require an eventual intraday retest. So, Thu’s open is…
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Tue’s relentless afternoon rally peaked 5 points short of its 7439 gap-fill. That was a lot of buying pressure to expend without gaining traction for the effort, and a lot…
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Mon’s pre-open, A.M. window, and noon hour dips had each held relevant support so suggest their sellers weren’t gaining traction. And each recovered higher highs to reward the buyers that…
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