Just want to mention I'm out of the long from yesterday now since it came back down below my entry point at 1046.50 (ES). That was disappointing as I was going for a big gain of 20 points off the capitulation reversal lows we saw yesterday morning. Didn't materialize obviously. This is a very negative sign by the way. It was false bullishness or manipulation as I mentioned yesterday.
This morning's flush came on very low volume after new durables orders was reported to have dropped 3.8% over last months numbers. Obviously new lows is bearish. NASDAQ, DOW and S&P all seeing new lows, but Russel is still above yesterday's lows.
I will be looking to sell the up-ticks today. Must be careful going short though as the market is over-sold right now. Important to watch price discovery going forward to find where the buying is temporarily going to lift this market back up...
Support at 1037, 1032, 1023, 1013, and 1000.
Resistance at 1044, 1050, 1065 and 1085.
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