Today's low might be weak into 20 day trough coming next few trading days
Ranging action until concrete move higher in post new release all day trend day
The breakdown and reclaim up from today's low shows a late 10 day cycle trough, so the market is bearish or getting more bearish HTF, otherwise it wouldnt be 9 days.
Having to come down here or being able to go this low are two different things.
If it was just ABLE to come down here for liquidity that is more optimistic. If it HAD to, that is less.
I personally believe that the new bears are stronger than the bulls and it may be that more time is needed for the the 20 day cycle trough expected this next few trading days… to provide major support.
Either way, my previous post today was correct, down momentum at open into value, watch for reclaim.