Friday’s close was bracketed by the overnight open and the globex low.
We suggested in Friday’s column that the vix divergence may signal a bounce. So far, so good.
Turkey day is around the corner, and the market needed to make up some time for the lost day or two, so it was off to the races after a small pullback at the rth open.
Citi is getting some more funding from the government, so it can continue to operate a while longer.
Woudn’t it be nice if we could get that kind of service?
The gap from 11/18 was almost closed today, so let’s see what tomorrow brings. Overnight activity may give us some clues. It’s a little easier to see some patterns when you look wholistically at the market through the eyes of a “system”. No one day can stand on its own, independent of how it interacts with previous days price structure.
Many astute traders seem to be watching a high correlation with the Dax these days.
Significant areas in the secret code also gave us clues for this expected bounce, both from a price and timing perspective.