DIA bounce off 200sma (first test since June 2017) into a Turtle Soup Buy. Higher momentum lows. Powerful short term reversal setup. 234.85 cancels the setup. Trailing stop.
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Edit: 234.85 = Previous 20 day lows. The trade is cancelled/invalidated below that level.
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Today was an NR7 day (Narrowest Range in 7 trading days) in all indices. NR7s are usually followed by very big moves. The negative oscillator has corrected almost all the way back to zero line. DJI and RUT sitting just above their 20 emas. I’d be wary of early rallies.