The down trend remains intact (so far) as the futures makes it's way through the succeeding trend lines. There could be a larger retrace up that begins at this location as mentioned in a prior post. Nothing fundamental seems to have changed regarding the top that was flagged yet. We are waiting for a weekly print of breadth ($nyad) signal line to breach zero and go negative.
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EOD: 'C' needed to print lower in an A-B-C down into trend line.The daily 50ma on the cash market is at 3305 - which is very close so that could provide a pop back up. The daily $nyad macd printed a lower closing without any positive divergence so any pop in the market could be short-lived.
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