From yesterday’s note “Bulls would hope that more time could be printed back above 5900“. That what we saw. Significant Buying (green) was marked which means the first sign of mechanical weakness would be a RTH close below 5884.5 (dashed line on chart), the Buying Day Low.
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The last Significant Selling (red) was marked on 16th April and since then Significant Buying has been marked six times – there hasn’t been a RTH close below any of them yet.
