After a reasonably clean backtest of its January highs, ES has broken trend and is back below that benchmark as well as its SMA20. Currently in the red by 11 points, SPX is indicated as opening below its January highs (2872.87.) So, either we get some algo heroics in the next hour or the market will be in for some trouble in the session ahead.
Without question we face some important tests today — starting with TNX, which is back to the top of its triangle. It has now been over seven months since it reached our 28.56 target.
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