The second pulse high initiates a little more selling, and this could now be setting up a sideways move as the market finds a little resistance at the 2550 mark.
Although momentum remains strong, the T volume oscillator drops down to the zero level – an inflection point in breadth and an indication that we may have seen a short-term peak.
Still, this helps to relieve some of the pressure on price and there is plenty of rising support below.
Be prepared for whatever comes next:
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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.