Courtesy of David Grandey
Right now it’s all about support and resistance as shown in the 60-minute charts.
In the micro super short term charts we have a 1st Thrust up, Pullback Off Highs pattern showing on the OTC comp with yet more positive divergence. Remember these are super short term charts.
The blue box is the first thrust up, the pink line is the Pullback Off Highs and upon an upside break of the pink line the market goes back to the upside.
Right now it looks as if the market is starting to go rangebound here with a retest of recent highs being resistance and a retest of recent lows being support.
It’ll be interesting to see what kind of action we get at a potential retest of the highs should we get there.
AAPL sure thinks so as it tagged support and has since launched higher.
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