Oil reached our downside target yesterday, then did something funny. Instead of supporting the “market” as it’s done countless times before with a bounce at support, it kept going. Likewise, DX and EURUSD ignored opportunities to tag their nearby SMA200s, which would easily have allowed SPX to close in the green.
Whenever TPTB ignore opportunities to have the “market” rebound, it can mean only one thing. They don’t want it to. At least, not yet.
We remain short from 2171.22 just before the close yesterday.
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