The stock market indices started off the month with a bang in an explosive move from the get-go that took them sharply higher all morning and reached the rally highs on the Nasdaq 100 just before noon at around 2329.
Markets are always discovering prices. Prices go up and down. But they usually find an equilibrium in a fairly narrow range. In a world of real money, prices don't vary that much.
Over the past several sessions it has become increasingly difficult to identify quality long setups. For the moment, it appears as if the market is positioned for further selling.
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