Our analysis yesterday was spot on and the Fed Dump was on.
But selling did stop at a visual, mechanical reference and pulled off a mongo excess tail on the 5 minute. Plus today featured the 1st sub -1600 TICK hit in quite awhile and, quite FRANKLY, for such an extreme reading to NOT punch through a visual level... just makes us wonder... So with that bit of information in our quiver, we are on watch for some shorts to cover tomorrow -- in some fashion.
But was the bit TICK breakout exhaustion or a breakout that will bring in more selling? There is the gap below. And the crew here always respects a visual gap to get the programs interested in some downside fill-it fun.
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