Tuesday”s sellers gained traction. The

Tuesday”s sellers gained traction. The bias environment was exited under the noon hour”s low, and the final hour was entered lower still. Sellers will be rewarded by having control of Wednesday morning. Typically that means trending down, whether a little or a lot, but not just briefly probing under Tuesday”s lows.

Unless… Last Thursday”s sellers gained traction, too. But they weren”t rewarded. Instead, Friday”s open gapped up above the prior afternoon bias environment”s high. Friday trended up throughout.

Interestingly, the same scenario is being encountered in the same area. Last Friday, the relevant level was 2090. Wednesday, it is 2090.75 — gapping up or immediately recovering it would invalidate Tuesday”s sellers. It could also form a “session-long rally” setup.

There”s no outstanding target below. Oversold RSIs were neutralized. And a second positive divergence was in position to trigger a dramatic decline, but failed. Sellers gained traction Tuesday, but seem shy about exploiting it. The thing is, they can be shy, since the traction is theirs to exploit. So, by the same token, shy sellers made it easier for buyers to negate them… Look out below if buyers are even shyer.

Here”s the link to Tuesday”s post-market Wrap:
https://roddavid10.mitel-nhwc.com/join/xmjmshz

[I”ll post the chaRTroom links for tonight shortly…]