So, like yesterday, being that the gap down was pretty steep the 2b criteria was pretty much complete with the opening gap down. So, there will either be a pullback that is shorted or a rally that will cause dip buyers to come in later in the morning. In terms of the 3/10macd, what set up this morning was the 4c to 4d continuation short which triggers on the 5-minute chart as the 4c criteria.
Look to breakout points and what price does when it returns to those points for clues.
Speaking of 2b short setup. It was triggered a while ago on the SPY weekly chartTwo more 4d short setups. The 4c condition exists, so you're anticipating 4d to trigger by watching the 5-minute 3/10 macd to turn bearish.
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