I wrote on Monday that the ‘5867.5 Control is now Support and it would be a positive to see that hold at the start of this week. If it can I would be targeting 6080‘. The Support came into play overnight on Monday and again during Tuesday’s RTH where the low was 5868.25.
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Significant Buying (green) was marked on Tuesday which means a RTH close below 5868.25, the Buying Day Low, would be unexpected in the near term – it would be a mechanical sign of ST weakness should it occur and weaken the bullish case.
