Wait for first hour low today

The market yesterday made a bit of a near-term double top. That theory would be out of the window if you take out all-time high. If not then the first hour low is not respected today, the market could have a bit of a trend day on the way down. I know it is a bit early to say that but that is how the set up is because the global weakness has come back and that led to that late slide yesterday.

All-time highs normally are taken out with the gap and it doesn’t look like there is going to be a gap on the upside at least for today.

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