The market put in a lower high on Tuesday and is now showing more weakness with the gap down as this is being written. The uptrend from July is still intact, but we stand at a pivot point where this trend could be broken soon. The leaders are starting to look sluggish. AAPL, GOOG, and BIDU are hovering in their upper ranges and are struggling to maintain this range. GS is setting up to make a lower high this week as well. AIG is starting to constrict again and this could lead to a big move one way or the other. Last time this happened when it broke above $41 and had a $10 intraday move. Keep this one on your radar. Gold and Oil both had a big days yesterday to the upside and could easily get to recent highs. There is a big jobs number tomorrow and the market could stay in a holding pattern until then. T3 traders are in tier 1 (light size) until something more compelling shows its face.
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