Mid-day Update… Poles vaulting.
Increased Brexit support triggers slide.
Monday morning’s 2092.50 high was attacked to within 6 ticks. Any room for testing it up to 2094.50 has been rendered moot. A pro-Brexit poll result was released, triggering a plunge to 2084.25.
Back under 2087.00 was likely to test 2084.50. But back above 2087.50 was needed to reinstate the rally. Touching it reversed won to test 2080.50 and then 2076.50.
2080.50 is also this afternoon’s bias-down signal, and it triggered. The 2073.75 bias-down target is in-play. Its test should also visit the “unfinished business below” outstanding from yesterday at 2070.75.
We have no control over the headlines, let alone their timing. Regardless of any confidence in actually probing above Monday’s highs — which is less confident now, since the attraction up to Monday’s highs is mostly satisfied — don’t take any trending for granted .
Do you expect any punitive damages for the round trip to 2070.75 as path to it was originally signaled yesterday morning?
Sorry, this comment wasn’t forwarded automatically to me…
Although it’s now moot due to the overnight rally, the answer is yes. The attraction above could have offered a “safety tether” to help lower objectives hold their test. Testing lower objectives now wouldn’t be any likelier to hold, let alone to recover.