In Monday’s day session, the TF broke below the lower extreme of its Balance Area. As I write this it has retraced the entire drop and is now trading above its HVN (High Volume Node). If the TF takes out 80530 it should be very positive for all the stock indices. However, if the TF reverses tonight or tomorrow and takes out Monday’s day session low at 78830 it is a signal at least a short term top has likely formed in the stock indices. If an upside breakout is underway 79520 should hold any retracement.
