Hourly price spreads (which measure price momentum) are bullish but deceleration, and the volum/price binary indicator are negative in the hour that ends at 0600 EDT. If price can remain above 11773.25, odds would favor a rally to 11960.25 and perhaps to 12065 if buyers become extremely active. If not, and sellers predominate, we could retest 11569.50 and perhaps pull back to 11485.93 and perhaps to a previous VWAP line near 11421.50, and if that breaks, perhaps 11379.50.
Who wins that contest depends on who shows up to trade it.
News flow is relatively light today. More will be coming soon.
No chart today. As I have time, I will publish it. I have a ton of things to get done today.
Market Data courtesy of Econoday.com
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