After a protracted consolidation, the bulls have had to hoist their ways out of the bear cave. While it appears that the have done this successful in price action, our filter is revealing otherwise.
Watch for series of fake-outs to the upper side, as insitutional traders might attempt to shake weak-hands during a significant, but short-lived decline. If this paranoia-filled scenario does not materialized, then be pleasantly surprised.
Structurally, 791.99 imposes a significant hurdle for now, and attempts at stabbing through that fence will require more than a retail-side stampeding. 770.00 defines the lower level of noise tolerance, below which, bears might rekindle back from their slumber.
with significant overhead resistance. Targets remain in sight and in force for the time being.
David Alcindor | 4xQuad.com
Predictive Analysis & Forecasting
Denver, Colorado USA
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