Pretty quiet here in the pre-market. Futures have been mostly flat for the past few hours after yesterday’s failed attempt to hold the 1.272.
The best allegory I’ve seen this morning is AAPL, which has been riding its SMA5 200 every day since breaking out above our 178.46 target. Yesterday, just shy of its SMA200, it finally gave in to the pressure.
A pause, or a sign of things to come?
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