All (Dysfunctional) Systems Go!

The morning gun higher was a little too rapid and petered out exactly at R2.   Mechanical reversals at highs like this typically don't bode well for continuation and, right on cue, the market based for most of the session and never took out R2.

But there was plenty of health underneath the hood and no sign of pending inventory needing to be adjusted lower.  Cleanly above prior day's ranges and financials leading the charge.

Trade of the day if not going long the open was to buy the last hour pullback to the VWAP and ride the predictable last hour ride back up to range highs.

With all time highs just above, it's high odds that a test is coming.

With the dysfunctional Governmental printing presses back on line, it's all systems go.

Nice bull day with Financials leading the charge up 2%