9:32 AM CT - I've added the transcend nautical chart of NYSE TICK to exhibit how we've consistently stayed higher upward zilch all forenoon long, equally we've accepted cost higher upward the recent trading range. The bluish moving average of TICK is rising, in addition to it remains good higher upward the royal zilch line. That is feature of trending markets.
We've broken to fresh rally highs on the heels of the favorable payrolls numbers in addition to right away edifice book betwixt 1129 in addition to 1130 inward the ES futures (above). I'm watching to come across if nosotros remain higher upward the prior overnight high at 1128.50 in addition to particularly to come across if nosotros remain higher upward VWAP in addition to the 1125 high from 2 days ago. The existent telephone telephone hither is whether this is a legit upside breakout vs. a trap that volition convey us dorsum into the multi-day range. I'll bespeak to come across distinct prove of book hitting bids earlier assuming the latter scenario, given firmness inward other conduct chances assets. Update volition come upward afterward this AM.
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