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Volatile Two-Way Tuesday in Progress


Wow, another intraday reversal, but this one is to the downside (for a change)!

Call this Somersault Tuesday!

Let's notice that the index reversed and has declined sharply, violating intraday support at 1871.50.

That leaves the near-term price structure vulnerable to a test and break of 1865, and possibly 1857.50, which will inflict some damage to the Feb-Mar uptrend.

At this juncture, only another sharp upside reversal and climb above 1882.25 will send the shorts for cover, and the e-SPH to new all-time highs.

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