Market Analysis and Trades for 6/9
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The weekly post for SPY 0.00%↑ and QQQ 0.00%↑ should be reviewed prior to this. It can be found here Market Analysis for the Week of 6/7
Friday’s selloff took ES and NQ to an absolutely massive spot that had a very good chance of producing at least a relief rally and “structure repair mission.” After a failed push lower Sunday night. It was easy to be too bearish after Friday and get caught shorting it all the way up, and easy to get too bullish on the rip only to find a fresh wave of sellers right where we should have.
All we did is test the bottom of this range and then come up and test the top of it at today’s high.
The market has yet to make a decision, but today’s profile left behind some clues.
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