One crazy market just when we thought we have a reversal in place we get a HUGE trend day up like yesterday. I am not in the perma bull cap that THIS is a new move here higher, my thought we will pullback much like Oil did THEN continue up.
For today I don't expect much as we should consolidate the huge day yesterday.
Wednesday, February 2, 2011
Tuesday, February 1, 2011
Monday, January 31, 2011
Monday
Wont be in today- I would be looking to fade this gap up as it stands an hour before the open. I do believe we have put in a short term high last week BUT we have to see how we consolidate around that trading range of friday's action.
Sunday, January 30, 2011
Overnight
So it is Sunday 8:00pm and futures are down not much but breaching some significant levels. Oil up more than a buck.
We will see what happens tomorrow.
We will see what happens tomorrow.
what I see
Trendline currently of the market- Though we printed a heavy day down on Friday we must be cautious on monday. What would be the perfect scenario is a gap up and a test of Fridays' low on the opposite side if we gap down I would be looking for a fad to relieve some of that nasty selling on Friday.
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