ALREADY CHURNING NEAR RESISTANCE
Just a short note to let you know markets are already churning as they move into resistance. Somewhat normal…but this remains a very tough environment as the moves are sudden in a very news-driven environment.
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Looks like MS /JEF are finding some buyers down here. These might do well going into the balance of year. IF Europe does not go into a black hole
Probably just End of Quarter buying and short covering.
10 trading days until end of quarter. I would expect us to keep churning higher through resistance until then.
A big rejection of the 100 or 200 right after EOQ would be ugly.