The 18:01 futures spike of 10 points drifted another 5 points higher overnight. At the cash open the futures premium forced five minute of buy programs that pushed the index to a 1472 high, right at 1473 resistance. A slow drift lower four hours then bounced back to close right at the VTL trend line. Friday we may get one more high as it is possible the diagonal "5" wave is not completed. Wave "iv" of a diagonal must trade into wave "ii" zone and the low Thursday did trade into that zone. It is also possible the wave topped at 1472 and we have a 1, and 2 wave down completed. Fridays trading should clear this up.
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