The bulls are showing a little bit of enthusiasm in the early part of afternoon trading. However, throughout the morning they were showing all the markings of simply wanting to throw in the towel.
At this point, I’d still consider the market to be in a chopping range, and doing nothing to resolve the weakness over the past couple of trading sessions.
My attention is still to the short-side and until this market can show me something more than just being able to keep things form getting ugly, I don’t see a huge incentive to get long on the market here.
Here’s the bullish list of trade setups:
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