Today's late day rally left us with a hanging man on the Daily chart. Whether or not we'll resolve that candlestick pattern to the downside still remains in question. It seems the obvious lately isn't so obvious. It seems all too perfect doesn't it? That we gap up within dimes of our previous highs and print a hanging man, it would be all too perfect to short from here, alas we'll have to let it prove itself out.
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This morning's sell-off came to a low right around previous Resistance/Support coinciding with S1. A 3-push momentum divergence built up, forming an inverted Head & Shoulders where we rallied back to R1 (also previous support).
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