When prices go up, our job is to determine whether the market has done a good job finding sellers. If it has, then it can trade lower. Today we opened gap down, and had a sharp move lower which may have looked somewhat alarming on the surface.
Structurally, sellers had a lay-up profile structure to work with, the “zipper” aka single prints left behind yesterday. There was certainly some higher time frame selling this morning, but it was almost instantly met with higher time frame responsive buying. Now we have a battle.
I was rendered useless mid-day by allowing the optometrist to dilate my pupils. It didn’t seem like a big deal while I was at Costco (aka heaven) but when I returned home I could not see any of the numbers or words on the screens. Talk about some perspective—be grateful for your sensory abilities.
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Higher we go. Period.
Bulls on parade.
when is someone on this site going to use bulls on parade by RATM for their blogosphere?
If I had my my own spot I’d have used it yesterday for sure. iBankcoin on the day the ‘daq breaks 5k? Better fucking believe it.
First trading day of every month would be Bone Thugs ‘n Harmony too.
Lol