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The “gappy” nature of this market, in both directions, has made it increasingly difficult to play for any type of swing trade. Today, the roulette ball landed on green, and we were off and gapping from the opening bell. If you blinked, you missed a chance to ride the first few moments up. So, the issue now is whether to look for longs after we have gapped higher. Currently, we have drifted sideways since the open, and there are some decent charts shaping up. The bulls still have a lot of overhead work to do in terms of resistance and potential supply, but if they can hold on to the lion’s share of these gains it will be an impressive rejection of yesterday’s attempt by the bears of a decisive breakdown.
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GREAT PIC
Tempting deal.