10:05 AM: Big disparities among the indices. TF/Russ testing lows, Dow/YM weak but ES/S&P and Naz 100/ENQ showing relative strength. Breadth negative but so far well above last week’s lows. Watch VERY carefully if Dow/YM and/orRuss/TF trades to a low – the directional tell will be in the first 5-10 minutes following that event. If S&P and Naz don’t begin to accelerate lower then it sets up the probability of a huge Bungee Jump up.
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