Rushed into the long position cause: 1) there was no further selling in financial sector (the weakest, thanks to Goldman Sachs breaking news); 2) $add started to recover and 3) Russell 2000 posted higher high. But ES failed to break out VWAP to the upside. The trade met stop loss order. And the reason of it were: 1) Goldman Sachs failed to make higher high (click thhe chart above to see); 2) $add also failed to push market higher w/ no higher highs; 3) strong weakness appeared in the tech sector (Nasdaq Composite futures and XLF ETF in particular) that was no hit by the financials session drowndown.
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