Our daily statistical study plotting both price action for 20Jul with key reference levels for 23Jul. Result??
The market saw 3+ sigma sellside auction in the Globex session beyond the 2nd Std Dev Low, 89.15s, referenced Friday. Spanish narrative (including complete short selling ban) was catalyst. With the exception of geo-political or margin catalysts, rotation of this magnitude is usually followed by a balance phase. This is what developed in the Pit session until liquidation into close.
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