Wednesday delivered an Inside, Balancing Day - which is essentially "Balance within balance" - a great set up if the market gaps higher or lower from this location. All Trends remain UP, however, be alert to a more dynamic change tomorrow morning.
Tuesday's Spike was clearly rejected as the overnight shorts were caught off-side. The market balanced within Tuesday's balance area all day. Wednesday's POC is very prominent. I will be looking for any auction that takes Price rapidly away from the prominent POC. Unless we gap lower - the first sign of change will be taking out the afternoon low at 1401.50 and then 1392 - balance area low. If we auction higher - the key references above are Tuesday's high at 1407.75 and then 1411.25 - April high.
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