Still have to get thru the area I described yesterday at 2913 area and that has played havoc with shorts. Let's do it today.
CL here is finally finished distributing at huge monthly chart level and looking to dump hard as well. Will today be the day of redemption for the bears?
Here is my speculation on the low volume over night rally that get sold off on the open. It's a perfect way to distribute a massive amount of contracts higher and higher levels. Run it up on low volume over night, then sell hard to the day traders who provide liquidity, as the market drifts up they sell every single pop hard during regular hours where there is a lot of liquidity. At some point the carpet gets pulled out and the market will "flash crash".. Just some Wednesday morning rambling.
Now the long slow grind back to the highs....As lunch nears you may hear.....The markets sold off on the open but have since recovered and are approaching the session highs.