With the intraday reading on the cpc ratio currently at 1.5, the 5 day ema would look something like this:
Finally oversold. This warrants some small size bottom picking, today, after the lunch. My favorite level is 1177 ES. The market is already there but it is risky to go long just ahead of lunch time.
This being said, I will look for a strong rally to close the day. I expect a 10 % rally to start from here and go on until the end of September.
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