Adding a quick thought to this. I missed one, so make it three all at the same exact spot. This exact spot on S&P futures also coincides with the 50% retracement of the entire decline:
That’s a lot to see at one exact spot. This is the coincidence of fibs I’ve been referring to for the last couple of weeks.
We are close to all of these in the cash session (would have been better to hit these in cash, too), but let’s see what happens. We’re probably close enough in cash. Surely we should get some kind of reaction here. Surely.
CPI was slightly better than expected this morning, pump was exaggerated. If jobs report comes in poor, maybe that will be exaggerated, too, but in the opposite direction, so let’s see.
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