Four day bullish surge into new all time highs after the Fed Day dip. Yesterday we paused that surge a bit and formed a bearish shooter candle after taking 7800 and setting another new ATH.
Today we saw tight consolidation through the overnight and early NY session. The point of clarity, or the point at which the market showed its hand today wasn’t until 2hrs into the open.
Small range today, but count it as partial retracement of Tuesday. Tomorrow morning we will likely face similar questions about direction with a caveat, Non-Farm Payrolls are up at 7:30am CST.
-Dan
