[dropcap]T[/dropcap]hough it looked a little iffy this morning with the inverted market structure low triggering around 10:30 am - right in the middle of the time window, and subsequent bounce reaction. The daily projection have indeed tracked out and imply another day of downward bias tomorrow. You can see that the markers at the end of the lines and how they correlated with the protections.
Keep in mind that these calculations are based on daily movements from 9:00 am to 9:00 am NOT the cash close to cash close.
Some very large shifts are going on in the larger time-frame market structure as market sets up for a significant turn...certainly, save for a short bounce in the very end of May and early June, implications are for a weak period ahead.