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2260 area on ES = also dPOC so consensus on price here. Need to break up/down to get some action but. Up more likely because we just like to go up (profile shape also suggest up to 2267 but late in day)
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Could not do it yesterday (ran out of time) but today.. and then some - price usually enthusiastically overshoots
All time high achieved but also top of 20 day average daily range and at R2 pivot, so it is going to take more buy the all time high to move on up from here.
Carry trade action according to Zerohedge the JPY falling against the dollar today is the catalyst. Lesson from the past couple of years seems either the yen or oil or VIX for the correlation algos to be triggered.
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On paper the smalls will be hurt the least by higher dollar on quarterly earnings but that would be saying fundamentals and earnings have meaning, silly me.