Bears did get REKT today. At least the late bears. I imagine a lot of people must have been piling in to short Sunday's Open.
You did warn us indeed! (This is all the fault of the bloody Norwegian Sovereign Fund, a pox on their house )
I won't say I'm surprised as I've seen it all, but to be fair, I didn't exactly say I was expecting a 120 point rip with barely a pullback in one straight line either. I like the short better from here. 6367.
We're still not out of the woods yet. Might retest this trendline and reverse. I hope not though. I'm short
I fear it may be game over already, buddy. The VIX dropped to 17 yesterday and the tape's been super bullish since Sunday's Open. Simply a one way market without even a deep retrace. I think we'll take out last week's high or low by week end. As of now, the high seems most likely. I see some news items coming up today (PMI, ISM). Other than that, a very news light week.
Be aware that on weekly TF there is a huge RST aka ‘Reverse Symmetrical Triangle’ (Broadening Top), and the PA was strongly rejected from 1.618 extension on the SPX. We might be at a long term the top.
Today's full session daily bar has closed gap from Thursday, RTH session from yesterday remained open. See what today's RTH brings.