deep in the overbought territory of T2122
Stocks gapped higher about half a percent Wednesday. However, this was met with an immediate strong selloff that lasted until 1 pm, giving back 2%-3% in the process. At that point the bulls stepped back in tepidly to lead a slow afternoon rally that took us right back where yesterday had closed. All-in-all, this left us with indecisive, black bodied Spinning Top candles in all 3 major indices. 10-year bond yields spiked to 2.937% and Oil (WTI) gained about 1% to $115.79/barrel. Overall, just another whipsaw day of indecision after last week's rally.
Thank you HRC/RWO | |
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