Your MUST-READ Morning Stock Futures Cheat Sheet: Tighten stops

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The Precise Take – Tighten stops

Big Picture Analysis – While each minor dip in this rally has proved a favorable long entry, yesterday’s range expansion and lack of volume support from approximately ~1325 to 1335 (see the 135 minute chart, below) warns of the potential for a quick and precipitous drop if the overnight lows in the ES do not hold.  The Philadelphia Fed Survey released at 10:00 am EST today will likely be a market mover.

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