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Higher Lows Continue as Traders Now Struggle at Resistance – 12/12/18

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MARKET TEMPERAMENT –

Higher lows have held in the short term after a fade of the sharp bounce yesterday.  We are essentially looking at a similar environment with one exception.  Momentum holds much more bullish into the resistance zones.  The broad market strucutres remain engaged in an intermediate bearish motion even as the bounce holds.  Traders are struggling at support.  We must continue to watch our edges carefully – particularly the higher lows if we are to remain with an updraft.   The first indication of deeper motion down will come with the failure to hold higher combined with the break of higher support.

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PROTECTED DATA SITS BELOW –

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