Well at first I was thinking this was going to be a gap-up Monday, but I'm thinking we'll see a retracement in the AM followed by another slow, low volume trading day. The market seems ambivalent to buy or sell, given the pending deal in Congress. I'm net short; if I get closed out tomorrow AM, planning to stay in cash for the remainder of the week, or until we get another impulse wave out of the muck we're currently trudging through.
Comment:
Upside down C&H forming on the 30-minute charts. Look at that volume at the left edge of the cup and base (center).
Comment:
It's almost a perfect setup given the 48-hour countdown until we find out if Congress will pass a bill. See you on the other side.