So they gapped the futures down on open last night, and you figure the computerz need to close the gap. I figured it'll happen today, of course they wait until after market close to fill it. Dow has already filled the gap, SPX hasn't yet. They hit the pump button on the computerz, let's see if it continues through the night.
If the pumping continue, it looks like the Dow will be the first to break out. SPY chart updated with the assumption that the pump continues overnight.
If the pumping continue, it looks like the Dow will be the first to break out. SPY chart updated with the assumption that the pump continues overnight.
Comment:
THey completely rolled over the futures after closing the gap in futures overnight. Does not lok as good with bank earnings sucking....
Tread carefully, not sure if the market will keep melting up with bad earnings.
Tread carefully, not sure if the market will keep melting up with bad earnings.
Trade closed manually:
Taking the morning run up and closing my position. Closing all long positions right here, looks more like a backtest on the broken wedge than a rally. Will reassess at the end of the day.
Comment:
LOL, they broke through despite the bad earnings.
Comment:
Apparently fundamentals or earnings have no impact on a market melt up.
Wait until next week to short anything.
Wait until next week to short anything.
Comment:
Would appear we are still on the melt up, any drop gets filled quick.
Small cap and NDX lagging behind though. I hope they go super pumptarded tonight, but I think they'll pull it back a bit and make the market work for it tomorrow.