Today's marginal new low in the Top 40 cash was probably a B wave of and ongoing 4th wave correction. ALSI futures did not register a new low there by creating a near term divergence .Added to that we had expanding breadth relative to Fridays low.Both momentum and volume indicators also did not make new extremes.If a triangle is in play we will have a few more sessions of sideways trading between 34235 and 33776 (basis cash) before we trade lower .If a flat is in play we will trade above 34235 (possibly towards 34500 ) before turning lower.
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