We're seeing another one of those range days, in which price oscillates around a relatively flat volume-weighted average price (VWAP; red line). We rejected lows on the move below the overnight range and, at present, are consolidating near the range highs. We have near-term resistance from yesterday in the 1195 area; the NQ futures and Russell 2000 Index are at a resistance area corresponding to yesterday's highs.
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