This morning’s gap higher continues to more than hold. In fact, the SPY has been slowly moving higher for the duration of the session on a plateau of sorts, as you can see on the 15-minute chart below. Again, I would not be surprised to see the bulls make another push into the bell. This has been a fairly textbook trend day higher. Those looking for a gap fill and/or to reinitiate shorts are probably too early.
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I am on board with that evaluation.
cool
Still looking for a good pair trade. I have done well with WNR long and BEXP short, but would like to find something more suitable long term as I think both of these will be strong once the market turns around.