Hourly sell from Tuesday is still in effect. We had a post election gap-down, which pushed some VST indicators to extremes, causing that recovery on Wednesday. Today we gave up all that gains. Now the hourly is nowhere near oversold conditions, to worry about any major rally here. Based on 30-min and 60-min indicators, we could bottom tommmorow morning somewhere around the 1376-78 area, which should lead to a small bounce before another leg of selloff starts....
Bottomline: ST bearish, IT neutral, LT bullish.
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