Monday, April 24, 2017

Gap Up Day

Shorts got it in the teeth today.

Tight intraday range.  Buy the minor low and sell the minor high.  But honestly, I thought that they would extend the range higher today but they didn't.  I thought the overnight highs would get tested -- but they were not.  That's a flag to notice...

Slight tail on the daily.  We are pretty much smack dab in the middle of the range now.   A failure tomorrow should have some teeth in the move as newly laggard longs will have to bail.

For now my bias is higher.

 

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