The incomplete jobless claims report was enough excuse for the S&P 500 to bump just under its key two hundred day moving average. That is proving stronger resistance at the mid-day, with intraday and daily bar overbought readings converging on what remains light volume. With gaps above largely filled (see 8/10-8/11), will price now focus on the gaps below? The Mrkt_Movers model is showing “risk-off” into the Deutsche Bank news.
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