Price action says further down but volatility is not confirming it. This is a very difficult trading environment. However, selling sentiment did show up today and OEX did not even close above S1, so the anticipation is still further down. After hours, UPS warned and slashed profit forecast. If anything it is going to be a very slow bleed. Bulls believe the bottom is in and are supporting the market. Others believe this is the start of another cycle down. Tomorrow's numbers are 633, 631 and 628. An NR7 again. Break out one way or the other and the bias is down.
2c
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