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Since Friday’s high at 2574.50 another new high at 2577.25 was made in overnight trading (2.75 points higher) with strong Buying pressure that developed. A Kamikaze (Crowd activity) up bar was formed at the last swing high and it may be indicative of the Smart money selling into the buying of the crowd, buying at these levels. The next two bars traded inside this bar’s range. At the moment there is no sign of rising volatility ($VIX) or other weaknesses or any Selling pressure developing, but Buying pressure has eased. Any pullback can find support at 2566.25. A bar close below 2562.50 can lead to more weakness.
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