Flat 87 and waiting for RTH open Move was very suspicious overnight as there was no significant news to justify testing last weeks high. I would rather wait for RTH to test overnight high for higher entry and tight stop.
We've had our first test of psychological resistance at 2600. I look for us to punch through in the next 2 or 3 days and move higher. 2690 would be our next area to get stopped a bit at.
That was a blunt force squeeze there, especially in NQ. RTY was diverging the entire time. Curious to see if that was finally enough to reverse it for a few days.
2585 to 2595 looks like good buying area at the moment for second thrust upwards. Prudent stops as always.
Could be but indices often screw around like this with obvious TA patterns even if they "work" at the end, could just be sucking in folks trying to play the failed breakout.