The Spu’s just put in another 25 point reversal.
The bottom of the bell is 2842 which would not be enough for a reversal on the Long-term P&F.
The pattern has the potential to actually give us a good sell off.
Stranded closes in the Pit session Indices coupled with algorithmic buying of high beta names early set this up.
You need to see late day weakness!
Not the puke into London’s close.
The rest of the day will be a time-frame trade.
With the exception of a couple of Biotech names and the Financials, which are still responding positively to rising rates, pay attention to your holdings!!!!!!!!
|50X3…looking for the reversal it would take price action into the high 20’s|