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Quick Takes:
- As we expected, market was thinly traded and volume was largely absent
- Weekly and daily frames look overbought
- If market moves below my top level of my three levels of exit/concern, I will let 1/3 of my position go
- Long-term trend is up. Mid-term trend is up. Short-term trend is up.
- OEW pivot support at 1240 and 1222. Pivot resistance at 1261 and 1291
The weekly momentum cycle has gone flat. Looks like it needs a push one way or the other
Daily momentum cycle has turned and we see some short term breadth divergences
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