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Here's a shot of the SP market price distribution. Thursday open was right
at the upper edge of Wednesday's value area(blue histogram). The SP then
proceded into an exhaustion move developing a new value area which later
failed to contain prices. The SP is now working the inside of Wednesday's
VA. The general key is to trade in the direction of the value area pivot,
but to expect tests of the previous day's va pivot which is being done right
now. .
bobr
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