Range narrowing

It was an easy decision today, for as soon as it was rejected from pivot 639, shorts were initiated and closed out when there was a profit. Tomorrow's numbers are 639, 637 and 635. A 4 point spread and is an NR7. It should be easy then, go with the flow tomorrow, long above 639 and short below 635. At 10am tomorrow, there is the existing home sale and more than likely no good, therefore the bias is down. This finishes wave 5 within the down channel before heading back up. Although other indicators point to one more day of down slide, the closing number is more than 10 points from the forecasted value and this normally will trigger a reversion. In any case follow the pivot numbers for action.

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