And so begins Quarter 3 2015!
The reversal continued yet price struggled mid-day in a falling range environment.
Let’s jump straight into our July 1st mid-day market update and stock scan.
What’s going on now and what levels are important? Let’s see:
Price is building off the “Rounded Reversal” and Positive Divergences off our 2,055 support target.
Yesterday afternoon’s rally set the stage for a continuation to the upside which we saw immediately off the opening gap.
However, a negative TICK (Market Internal) Divergence near 2,085 set the stage for a retracement that has gone a little deeper perhaps than expected.
For now, we’re monitoring price action into the key 2,070 pivot and will note it as our bull/bear battle line.