Nothing much happened today, but our ST (Short-Term) trend has turned back down. Because we are in OB territory volatility becomes evident. This is why our PA is on the UP trend. Todays indecision turned up a daily doji and still remains bearish short-term. On the ES prices have been relatively sideways, so we should look for continued pattern down.
MT: UP
ST: DOWN
PA: UP
Prices remain on a negative divergence... A sustainable downside would come if the MACD can move below the midline, and right now it is just above it. So we will keep our eyes peeled for this development.
Again today the Financials has shown more weakness than the SPX.
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