I do notice that in impulse moves, after a multiple day directional move, there appears a pause that suggests maybe it is all over.
That is usually followed by an extension move for as little as a single day, that freaks out those that were hoping it wasn't really an important move.
Freaked out, they then cover only to see a counter move.
So yes, that implies another weak day and then everyone will be bearish.
Infallible, no!
Just looking SPX very short term EW suggests a couple of very minor down legs intra day.
I did say I had all indicators bearish I thought, but on EOD analysis I still have a few on the bordeline.
Because SPI has been trading at night, dynamic lows daily are now 4573 for tonight and tomorrow although longer time frames are a little higher although sub 4600.
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