Every sector today has a potential test like bar, except A Reit which was up strongly.
and a lot of sectors are also coming off a weekly test bar as well.
You would expect a positive response to today's action, or at worst a secondary test.
Should the potential test fail here (nasty down bar), likely further downside to come.
For anyone interested a 'generic' test bar is defined as a "narrow spread down bar, closing mid to high, on volume less than average or the previous two bars".
and to be considered a successful test, the next bar should be up (a test is a potential sign of strength, however a failed test is a sign of weakness).
cheers
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