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✔ Markets opened flat Thursday and then proceeded to waffle back and forth between positive and negative all day. This left all 3 major indices above their T-lines (8ema) even though the QQQ retested and held that level earlier in the day. All 3 of those indices are giving us an indecisive Doji / Spinning Top type candles as we move into the last half hour of the day. However, the 200sma remains an issue (overhead for SPY and QQQ, just below for DIA). Seven of the ten sectors were green with 30 minutes left in the session. Energy was far and away the most significant moving sector, up more than 2.5%, while Healthcare and Communications Services paced the laggards, down about half a percent. VXX is flat so far, but stocks are creeping back into overbought territory, according to T2122. 10-year bond yields are off just slightly, but oil (WTI) is up 2.75%, now back above $90/barrel again. | |
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