Yesterday’s price action saw buying come in and suggests a follow-through rally today. But so far in the overnight market, we are failing to see that follow-through. Watch yesterday’s high. Any follow through must rise above this level.
Inability to rally here will lead to one of two scenarios: the market either starts falling again (watch for a break of the 1138 level); or it goes into a narrow sideways range. It always helps to have a game plan for the S&Ps.
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