Technically the MKT has produced a major positive signal into the upper extreme and will need to hold structure if it is going to avoid a drop back into a digestive trade.
Key off the 15035 Inflection Pivot as the potental exhaustive high point for any new interest today.
On the SELL side FADE signals are valid but REVERSAL strategies are a better option at 14916 and 15035. Have resting limit orders off support inflections and use aggressive position management to lock in any unrealized gains on any REVERSAL trade. BREAKOUT strategies at 14801 and 14686 are aggressive but do have the potential to profit from a quick negative move out of the extreme. Use tight position management for these strategies as any unrealized profits can be erased quickly by the underlying positive momentum.
On the BUY side accept FADE strategies off the 14686 support pivot after confirmation. The MKT is extended and may search for stops before it resumes its Bull move. REVERSAL strategies are a better option. The sharper the break, the better for an entry with the expectations that the MKT is going to revisit the recent move high. BUY BREAKOUT strategies above 14801 and 14916 may need to be "worked" as the MKT is extended and has the potential to produce some starts and stops, with 15035 the high point for any positive push. Only above here does the rally extend.
JS
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