Day and Night

As I suspected, the market was exposed to another test of the highs. Again, it is the overnight session that shows the best pattern. I find I'm using overnight charts more and more. It concerns me that the day sessions often end up inconclusive while overnight is where the set ups occur. I want to add to the SH tranche above the highs if given the chance, and will scale out of some SPY 123 calls. It is rollover today. I notice the March contract, ESH11, has a clearer pattern than the December contract: 5-waves down after hitting a new high. I want to see how the day session resolves this. Meanwhile the internals continue to deteriorate, especially 52-week highs.