The sp'1775 high is still holding, and market remains vulnerable to a moderate down wave. Yet...there is huge QE today, and underlying pressure is clearly still to the upside. Metals and Oil holding moderate gains, whilst the USD is weaker, -0.3%.
sp'60min
Summary
The current price action remains a bit of a mess.
For those with eyes on the bigger picture...its a case of ignore the minor moves..and focus on the broader bullish weekly/monthly cycles.
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TSLA offering an opening reversal candle.
So far, the key 153 spike low is holding.
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10.31am.. TSLA fails to hold 153.
Downside target zone is a rather obvious 110/100...within weeks..perhaps days.
Main market..seeing a reaction at the sp'1775 high....
Regardless..underlying pressure is still upward in the weeks ahead.