We received the durable goods report before the bell and it didn’t look good. The market popped initially on the bad (good) news but during the day we lost steam and gave away most of the gains.
The market is still sitting on the major supports but the odds are to the downside. These haven’t changed yet although they may change anytime.
The daily Ichimoku chart is getting worse speaking to the bearish odds:
The weekly chart still shows no improvement either. But if we continue sideways it will improve naturally, LOL. As of today, we are still in a sideways range bound trend:
The market sort of behaved as predicted, we had a pop-up and a retreat. Tomorrow, we may see a new uptrend:
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