As represented by the S&P 500 index, the market has reached this morning’s target – the bottom of the balance range.

I would expect a bounce, as the market is oversold on a 5-minute time frame, and we have some divergences at the low. But any price acceptance below the range has the potential for a tone change.

Be careful, but it does not take much of a stop loss to try a long trade here. Your job is always to find low-risk entry points in either direction and supported by the probabilities. The afternoon drive should start shortly.

A.F. Thornton