But I have so wanted to start posting again. I see all of these patterns and want to document them. Not sure if I can get through the block to simply spend a little time to post regularly again. Now that I'm firmly out of the habit for well over a year, not so sure it's going to happen.
Here is what yesterday's action was like: It was one of those days with little volume that just so happened to grind lower all day long on the heels of the gap up. Nothing harrowing about the day whatsoever except for this is the kind of day that made me enter long on the gap fill -- which didn't pan out all that well. I thought to myself on the close "I would not suprise me if the market gaps up tomorrow.
So with that in mind, here is what happened today. Yes, the two way auction process lives! All of the laggard shorts yesterday fueled the rally.
With the market at yesterday's highs, do we sell it or not? Given the short inventory in trouble, it's not a sell.
At here is the top, as indicated by the TICK momentum. Still, all it did from here was base into the close.
This kind of stuff happens when market is firmly in an uptrend and in a quasi-corrective and balancing-mode.
Shitty selling gets hammered.
On the daily:
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