The market continues higher challenging the previous high and moving above the mid-channel.
An echo high is scheduled for today, and so we expect some weakness afterwards.
Futures are up considerably on election results, placing the market above the 200 day moving average for the first time since 22 October, a close above would be a very positive development.
The T volume oscillator moves up again and is now at the relative high of 21 October. This is also a positive development as it potentially activates larger sections of the new T structure.
Although for now, the structure is a V shaped T structure, as and when we get another pullback, we may find that the structure starts to morph into a larger and more complex structure, depending upon whether the new primary low is challenged or not.
Be prepared for whatever is coming next, and trade with confidence:
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