A gap down for a test of the current advance found important support and plentiful buyers for a text book recovery all the way back to close at a token new high.
The strength is in-line with the expected peak projected by the major arm of the T structure which projects a peak for today. There is also an echo high scheduled for today and the combination suggests that we may see some strong selling either today or just after the high on monday.
With one successful test of the recent advance acheived, I would now expect to see the market start to define an upper range with a series of probes to the upside and to the downside whilst continuing its grind slightly upwards and sideways.
Be prepared for whatever comes next:
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