Wed’s RTH session did not print above 4931, indicating weakness in the ST, see yesterday’s note.
The minor Support at 4916 was broken. Significant Selling (red) was marked and the RTH close was below 4912.75, see yesterday’s note.
As the target at 4940 was reached on Tuesday and we are now seeing signs of weakness I am not initiating new longs, at least until a VA is printed above 4882. Price below that level and I would anticipate a test of 4811.
