Critical level here. Could be a last point of supply (LPSY). Otherwise there needs to be a lot of buying volume to come in and move price through this area. The other scenario is that the market moves sideways/pullback.
I don't usually look at the MID caps too much, but it is interesting that they already retesting the downtrend vs all the indicies, where they are just approaching that level of retest. DIA being the best vs IWM being the worst,
MDY is setting up for a short with the
most current fractal. It also is showing a double
top technical pattern. Here is my setup.
One note, from a Ichimoku perspective both MDY and IWM
are in balance (price close to the Kijun line on daily) so the market is setting up now to show its hand.