Huge huge gap up, so chances are high that the gap won't be filled.
Institutional actions from StockTiming. Well, guess today's data doesn't matter anymore, it's the tomorrow that is important.
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alvian33 wrote:morning Cobra, what do you think of gold? do you think there is much left to the upsied? I went short last night
gold is bullish.
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the open, since the gap is too sharp, so I expect some consolidation at open here.
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One interesting thing on VIX is that it formed a kind of head and shoulders pattern the last few weeks and now it has broken down. Clearly the target can't be met, it measures 15 pts or more which would make VIX negative LOL. But, one thing about h&s is that sometimes when they break down it turns out to be a headfake and the instrument reverses from there, just like the S&P formed a little head and shoulders the last few weeks, it broke and turned out to be a headfake. However, the alignment is bullish for now, no question.
well i called it yesterday guys.. what a surprise we gapped over a resistance on an overnight low volume ramp. lol. anyway, i'm cashing in my swing for the week and taking the rest off. we're back in coil land an i expect some choppiness. have a good one.