Yesterday I wrote ‘In a downtrend, strength tends to come at the beginning of the week and then fades, I’m watching for that’. Monday did rally – but stronger than I would expect if Sellers are taking charge, i.e. Significant Buying (green) was marked and a Value Area was generated entirely above the 6302.5 Control. I’m currently weighing the evidence of market generated information and have low conviction in the Short Term – which is long-hand for I have no idea which way this market is going to go.
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