New home sales comes in under consensus estimates and market sells. Market flushes down in almost the exact pattern that we saw yesterday at 10:00am EST, when existing homes sales was reported. Market sold off 4.5 points and then reversed to the upside just as quick and moved higher forming a reversal tail just like we saw yesterday. I am flat right now. Don't like this market, though I do have a slight intra-day long bias in concert with yesterday's action.
Be interesting to see if the rest of the day mirrors trading from yesterday...
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This time we are already seeing more selling than we did yesterday after the reversal candle. I take away any long bias that I had. I am going back to my short bias. But Like I said, I don't like this market, though considering shorts right now if anything...
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