Any High Day
Letting go of unwanted emotions is a pre-requisite for successfully maneuvering the mine fields of the markets.
Globex trading was the setup for the longs today… and cruise control and auto pilot worked for those who punched a clock.
“If 42 holds, we can test any day high.”
The 41 low held, and then the march was relentless. The slow simmer squeeze was destined to grind the hapless shorts higher in a mechanical ratchet-type move.
The key for us today was the open…and we didn’t like the inability of the shorts to penetrate the 56.
If you are trying for the half gap and gap, be aware that we can go to any day high. The best short will come from the 66 resistance first; target should be the 60 and the 58; but don’t expect much. I think the shorts are in for a long day. Sitting on the sidelines is also OK if you don’t like the game they have set for us.
Don’t expect a plunge today; it’s just not going to happen two days in a row.
“Leaving for a few afternoon appointments, probably wont be back until the close.
When we drag along the dead carcass of so many shorts, the market just squeezes higher.
Never underestimate the power of the Boyz to manipulate the market.
It’s what they do.