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Apologies for the late start this morning, we had some internet issues in the office.
I expected that we would open flattish today given the 100% retracement from the top of the bounce to the initial down move. The dow was also down 1,000 yesterday which is generally unsustainable and usually needs some balance afterwards.
Overnight inventory is net long but not 100% so. Am noting that the ONL did’t go lower than the RTH low.
2630.40 is halfback of yesterday’s range and could be in play.
Overall, I expect volatility to come in a bit today and we have a relatively rotational day around SPX (cash) 2600.
Have a great day,
peter
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