Small gap down within yesterday's range, plus it's the next after a Major Distribution Day, so chances are the gap will be filled.
The Global ES is a t a critical point, as you're all familiar now, anytime revisit the previous extremes, there's a chance for reversal, so if cannot decisively break below yesterday's low or even cannot make a lower low, then the low was in at least for the short-term. So let's watch the blue line below closely.
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Cobra wrote:Small gap down within yesterday's range, plus it's the next after a Major Distribution Day, so chances are the gap will be filled.
The Global ES is a t a critical point, as you're all familiar now, anytime revisit the previous extremes, there's a chance for reversal, so if cannot decisively break below yesterday's high or even cannot make a lower low, then the low was in at least for the short-term. So let's watch the blue line below closely.
You mean "so if cannot decisively break below yesterday's LOW" not "so if cannot decisively break below yesterday's high ", right? Thanks
Cobra wrote:Small gap down within yesterday's range, plus it's the next after a Major Distribution Day, so chances are the gap will be filled.
The Global ES is a t a critical point, as you're all familiar now, anytime revisit the previous extremes, there's a chance for reversal, so if cannot decisively break below yesterday's high or even cannot make a lower low, then the low was in at least for the short-term. So let's watch the blue line below closely.
You mean "so if cannot decisively break below yesterday's LOW" not "so if cannot decisively break below yesterday's high ", right? Thanks
Yes, you're right.
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Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.