Just a few quick BachNut comments:
Bears managed to tag the lower keltner band yesterday at 4062.98 confirming a bear bias until further notice.
That said, the lower band may have been a good buy spot for a reversion to some mean if a bounce is developing.
The 200 MA is now resistance.
There has been a positive NYMO divergence for several days now as price has made new lows but NYMO has ticked up. Bullish.
Typically after NYMO pulls out of the lower Turn Zone, it is good for a trip up to the zero line or at least near it even if the move doesn't turn into a full fledged up cycle.
It is not unusual to see price find its way to the middle keltner with such NYMO rallies.
There are five open gaps above and none below. Not used to seeing that...
FOMC tomorrow.
I am still inactive but am now monitoring for a setup.