The short-term weakness in futures yesterday morning produced a 20 point drop overnight, and also painted a declining pattern in the 1-hour RSI. I covered an ES short in the low 1070s, since RSI is already into oversold territory with a double-bottom:
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It would be nice to see a weak rally now to set us up for another big wave down, but we’ll see what happens.
Also overnight, CHF and EUR made new lows. I bought some CHF near the bottom and sold for a quick trade. GBP held up pretty well in comparison, by the way.
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