Today is breakout day and will be very difficult for the short side, it will catch stubborn shorts.
I think they hit from the ladies tee again, and will squeeze higher.
Zeek said more like putt putt on the miniature golf course.
Friday’s low was the gap and trap; that’s how they have manipulated to get higher.
Today, maybe a small pull back at the open, but I expect the market to move away from the gap.
Let’s use 17 for resistance at the open, test the 13.75, the 11, the 10, but I think 9.5 is support for now. If 17 goes, and I expect it will, that’s to test the 18.75 high.
Prior to lunch, test 21.75 likely.
If we get that, then use 22 as resistance for scalp short, test the 19 breakout, 18.25, and 17.5.
Afternoon bias is still up, squeeze type. Expecting 23.5 and 24+ target. 28.25 is valid, but I think 24 area enough today.
No edge either side… longs squeezing shorts, but day traders will come out. Possible test 20.75 by end of day.
The chart we posted pre market still a beauty.
Summer simmer… tough day to trade…easier to just get the pullback long at the open and stay long.
We love the half gap play…but guessed today would be an outlier and trap shorts wanting more than a handful of points.
August is here; first of the month brings new money, we wanted to capitalize on that the last two days.
Posts will be brief for some R and R here the month of August.
Free gyros in Greece…
Free Flamingos in Florida.