Markets moved lower today just after in the am spike to a new day high. The move out of overbought range on our 60min stoch was expected. But do remember our daily is still bullishly up so a turn down on the 60min can be seen as just a correction. A possible ABC 3 wave pattern to confirm that it is. The 15min stoch. shows a move up out of oversold that could be starting wave B, therefore if prices doesnt move higher and the 15min somehow turns down you can be sure its starting another wave down.
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