Per the recent Twitter post, note how the test of the ES morning lows above was accompanied by reduced volume (blue arrow) and non-confirmations from the Russell and NASDAQ indexes, as well as many sectors (such as financial stocks). We also saw a nice non-confirmation by the NYSE TICK, as the -1000 area readings could not force the market lower. That led to short covering and then increased buying. Readers will recognize this as the "transition pattern" that I've emphasized in recent posts.
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