So now that the majority of shorts have covered, what's next? We find out tomorrow. Longs are still very vulnerable here if sellers wish to take back the baton. History suggests that a big green bar like today means another failed downside attempt.
Tuesday, April 16, 2013
Green, Green, Green
We would normally expect a balanced day after a trend day. Although today was an inside range day, it's hard to make the case for it being balanced. It grinded higher all day long. Volume was still up but not as strong as yesterday's.
So now that the majority of shorts have covered, what's next? We find out tomorrow. Longs are still very vulnerable here if sellers wish to take back the baton. History suggests that a big green bar like today means another failed downside attempt.
So now that the majority of shorts have covered, what's next? We find out tomorrow. Longs are still very vulnerable here if sellers wish to take back the baton. History suggests that a big green bar like today means another failed downside attempt.