A key question for Tuesday morning's trading is whether we hold the support in the 1127/1128 area or begin a fresh downleg in the ES futures (below).
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One thing I'll be watching and commenting upon this morning is whether intermarket themes from Friday's trading (USD strong; commodities weak; lower Treasury rates) begin to enter today's (Tuesday) trade. If not, I'll look for us to test the overnight highs in early trading; failure to take out those highs would target a test of those range lows.
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