The First Trade blog post

The First Trade blog post reiterated the upside attraction to 1967 remained in-play since yesterday”s sellers had failed to gain traction. Minutes later, Mario Draghi”s comments triggered a 14-point surge that probed 1967 by nearly 2 points. Of course, being resistance, the test has reacted down. In fact, the surge”s 1955 origin is being probed by almost 3 points to attack 1952. That”s not necessarily bearish, not without also exiting the open under the 1951 prior low. Otherwise, the overly-optimistic surge has been corrected, and 1967 can still be tested intraday. Back above 1958.25 would start to signal as much.

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