If you talk to traders in the small circle of market profile theorists they often say neutral days tend to follow one another. However, if you do a statistical study of the catchy saying, spoiler alert, it only happens 20% of the time.
Today is a one-in-five instance, a rare sighting indeed. Fun to see such behavior as we set our eyes on Friday’s NFP announcement. The quirk to yesterday’s neutral day was it closed on the upper extreme, will today’s do the same? If yes, and you are net short, you might want to gird your loins because I reckon that 2 rare neutral extremes in a row is some kind of omen.
Oil, as you likely have been told numerous times, gave up a good chunk of its progress off the lows. How much? You may ask, if you’re nature is one of curiosity.
So far about half, so chill baby.
I have work to do into the bell. Godspeed mates.If you enjoy the content at iBankCoin, please follow us on Twitter