As I write the market has made that push into the area where it either fails or breaks higher. I've waited all morning to find a good point to add a little short exposure and I'm doing so at these levels. Not that I'm all that comfortable mind you, but instead just looking to work a trade into what I see is some heavy selling at these levels.
The bias is mixed rather than lower at this point given the continued strength all morning and two sided trades can work. As I said earlier, one way or the other, one of those faster moves is setting up and the only question is direction. Trend followers are betting higher. Internals along with some other indicators suggest the fade trade. Whichever side wins, it promises to be an interesting battle.
The bias is mixed rather than lower at this point given the continued strength all morning and two sided trades can work. As I said earlier, one way or the other, one of those faster moves is setting up and the only question is direction. Trend followers are betting higher. Internals along with some other indicators suggest the fade trade. Whichever side wins, it promises to be an interesting battle.
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