Yet another day of nonsensical SPX propping yesterday. Five sessions after SPX completed a Bat Pattern at the .886 Fib retracement of the drop from 2134 to 1867, it finally managed to tag the .786 Fib. Two days later, it can’t even manage another few points to backtest the SMA200.
USDJPY remains elevated, jealously guarding the points it gained in last Friday’s post-NFP sprint. While it is cautiously returning to earth, it’s doing so after hours, when ES is easily propped up.
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