London/Frankfurt day traders could be closing out. need a half hour or so for them to be gone and then we will see if the bull has some legs left. Lots of options with strikes up in here that Da Bozs would like to expire worthless tomorrow.
Bears will have to wait for this intraday buy the dip to fail before getting heavy on the sell side. for now just hit and run, jab jab..run in circle and jab.
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1st touch of ema20 in 2+ hours, watch for buy setup.
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So last night somebody forgot to turn on the algos when the euro time zone opened and we got that lovely 7 point spike down in about 2 minutes. Nice spike up from there to where we are at. Fly in the ointment is as we approached euro zone close pattern turned into spike and channel. Waiting to see if the head and shoulders pattern completes and signals Bull Bears drop. I have a difficult time with a 25 point move on 10% volume levels we see at night being sustained without some sort of test.
maybe range low was in, at most there's another higher low or slightly lower low. The tinted area shows the change of the strength between bulls and bears which made me draw the conclusion.
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