Markets are under declining VWAPs but above rising 5 day MAs on light selling with soft price action. As of now ES is trying to make a run at VWAP and potentially change direction back up.
Bottom line to me is that this is further consolidation and in terms of probabilities will resolve itself to continue the trend back up. I honestly think 875 may happen before this gap underneath us gets filled - but that is just speculation at this point. Anything can happen. Right now consolidation and sucking in more shorts to fuel the move higher.
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