For what was a very big move up today you may notice it was rather “slow.” This is known as a gap and go day where the market gaps up and then moves sideways the rest of the day. This keeps the majority of market participants out of the market. The only way to catch these moves if you have not positioned yourself in the pre-market or overnight sessions is to be long or short stock, option, or overnight futures positions. Find a balance between intraday and overnight setups that suits you.
Today we saw a close on the Trin of .25 and while this is bullish for the day, tomorrows actions will dictate the likelihood of a sustained rally, or decline. If we fail to sell off to some degree tomorrow and instead rally, then the markets are in for a longer term sustained rally. We have lots of news tomorrow including Jobless Claims, Pending Home Sales, Chain Store Sales, and Bernanke Speaking so expect a wild morning.
Today we saw a close on the Trin of .25 and while this is bullish for the day, tomorrows actions will dictate the likelihood of a sustained rally, or decline. If we fail to sell off to some degree tomorrow and instead rally, then the markets are in for a longer term sustained rally. We have lots of news tomorrow including Jobless Claims, Pending Home Sales, Chain Store Sales, and Bernanke Speaking so expect a wild morning.
No comments:
Post a Comment