The Interns Lost Control

Volume metrics told the story this morning.  Volume during the first 15 minutes of trade was less than half the 20-day median on the NASDAQ.  The market was in the hands of hungover novices and they were easily overrun by a supply glut.

This is still a holiday shortened week however, and I see no reason to high tail it to cash.  It looks like a real liquidation will not trigger unless price sustains south of 4646, see below:

Anyhow bias is short but I am not pressing.