That’s how many they broke here in the wee hours approaching 6 AM NY time. They came down to two channel lines converging at 4270 and the plunge stopped on a dime right there. Trading algos know where the trendlines are.
Now if they drop below 4267, then there’s a little air down to the base breakout line at 4257. Indicators are weakening still, so there’s a good chance that will happen.
Also a good chance that it won’t. WTF do I know? I’ll wait for the market to turn thumbs up or thumbs down. As for a bullish re-signal my guess is that if they clear 4283, they’ll make new highs later today.
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