Just worth noticing the similarities which occur after sizable distribution phases. In my opinion we're in the Gap Trap phase at this point. Bullish or bearish is less relevant at this point. For a sustained move in either direction it will take time before institutions collect their inventory based on where they see the market going. If this is a consolidation before lower lows it should take time before that happens. If this is consolidation before new highs, it should take time before that happens. In the meantime, we should cycle within a range.
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