** NEUTRAL POSITIVE EXTREME **
The MKT is in a neutral digest in an underlying posiitve MKT and will need to generate a positive push today if it is to avoid falling back into a corrective trade.
The 83.88 Inflection Pivot is the low point for any corrective pull back if the underlying tone is going to remain firm. A break under this support level is a signal of a sentiment shift.
On the Sell side REVERSAL strategies off major inflection points will work best as any unsustained positive signal is expected to provide a sharp negative reaction. FADE strategies off the initial major resistance inflection pivots are valid but will work better after the 2nd or 3rd press into an area. BREAKOUT strategies are a lower probability and should be used as a signal for a FADE strategy against Directional reisstance.
On the Buy side FADE and REVERSAL strategies are recommended off support inflections, especially if the previous session low point remains intact. BREAKOUT strategies should hold structure after a resistance breach if they are going to follow through. Any break in momentum and the market will be vulnerable to drop back into a digestive trade.
Note: The MKT has stalled and may need a session or two to catch its breath or it already has. Keep an open mind and let the MKT tell you was is.
JS
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