Above nosotros encounter a multiday view of the ES futures. Note how nosotros took out the Oct 15/16 highs on Monday, roughshod back, but at 1 time are trading to a higher house those. That frames the big lawsuit for this morning's trade: volition nosotros encounter a continuation of the upmove into the 1100 area, or volition nosotros autumn dorsum into the multiday trading range? Thus far, investors convey been responding positively to favorable net news--itself a useful view gauge.
To this point, I convey seen fiddling deterioration inwards the Technical Strength (short-term tendency status) of the forty stocks inwards my basket, amongst 31 inwards uptrends, five neutral, together with exclusively four inwards downtrends. (The tendency mensurate is updated daily earlier each marketplace opened upwards via Twitter; follow tweets here). We did encounter simply about stalling out of novel 20-day highs on Monday; advance/decline pull was good, but tailed off somewhat during the day. I'll hold out watching closely today to encounter if nosotros tin expand the breadth of this rally on the heels of recent practiced net news.
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