I kinda disagree with you for the rest of the week. I think we might drift down into the kickoff of earnings season. No one is going to want to be blindsided by some gloomy forward guidance by some of the market movers. Not saying that the trend won't remain up, just perhaps the next few days may start down in anticipation of JPM and the likes. We'll see.
We have reached the circle shown here and posted in the previous journal. The SMA line is about 5 pts away. I expect tomorrow to be red. Also there is an RSI divergence on the 5 mins chart, I take it as a topping signal...
That was a quote from last week and it came to pass. Right now the work is on establishing 2585 as new floor.
Looks more like down trend correction is coming to an end, but nobody in here is a seer...have a plan.
Nikkei will pop 60-80 at the open and close negative. Say, -120 on the day. Our index markets to close lower tomorrow.
20 minutes later. New highs would be expected on a day like today, but price is currently not in agreement.
The RTH ranges have been decreasing all week with every day below the recent average. I'm wondering if we could be setting up for another leg down on the daily. EDIT: Even though a 27,75 point range is decent by most standards, it's only a measly 45 % of the recent average range.