No gap today. Odd.
We just closed another target at SPX 2743.07.
I wasn't planning a post today, but I continue to see the NYMO not cooperate with price.
Friday for the third time, we opened in the turn zone but closed above.
We continue to have a positive divergence with price making new lows but NYMO closing above the May 13 low.
Each stairstep drop in NYMO has been smaller creating a descending wedge.
Today NYMO is up intra-day while price is making fresh lows.
Under the hood, someone is buying.
I am still short, but looking for a turn up, perhaps for a trip to the middle keltner (now 2838).