Looks like my “feeling” was right, as soon as I posted the market sold off into the close. The market left a swing day by making a new high and closing low and well below its OR. Although the market looks like it has more down side, the line in the sand is the 8 ma of the Value area now at 1200.75. If we take this out with conviction then we can see a nice sell off, hopefully. Otherwise we can rotate back up waiting on Fed No News and Goldman testimony. Above us we have resistance at the settle 07.50 the Value area low 11.50 and the Value area high 15.50. Be low us, if we trade below and find acceptance under 00.75, we have support at 94.25 and weekly support at 90.25.
Good Trading
Tim Mack
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