Today featured a pretty decent 10 point gap up. As price meandered around for the 1st hour, the TICK was clearly waning and indicating strongly of a pending look down into the gap.
And the trade of the day was to buy the minor low of gap fill! That was just a perfect asymmetrical trade. And the rally higher was long and powerful, just like in yesterday's session. The two were very similar.
For tomorrow, and after today's inside range balance, odds are shifted towards a push higher. Any sort of visual triangulation in this bull market gets pounced upon by the buyers. But as Brett points out again, momentum is waning underneath the hood.
And a red bar out of this extended balance, should it print, will be a biggie. I'm not so inclined to expect big green extension higher. Most likely just grind.
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