Thursday, August 29, 2013

Repeat Day

Today's action was an almost perfect mirror of yesterday's print.  A period tail and grind higher only to fall back into the range mid session.

We will point out some nice trading opportunities today and also marvel at a couple of 5 minute chart nuances that repeat over and over.

3 day inside range balance now, and I'm just not sure if the gap fill above is just too juicy to ignore, or if two day's of afternoon weakness are a sign that buyers are weak.  Best guess is that they try for the gap again tomorrow in some fashion as it's month's end. A failure to do so, I think, shifts odds greatly to the sellers.

 






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