shorts have to cover and no one else is shorting the gap UP. other news/events/sentiments will PUSH the mkt higher
Will anyone want to hold into this weekend ? Next week will probably be ultra gloomy because of the memories and images of 9/11.
Seems like Fridays for the last 6 months almost always close down, so I bet we sell off into the close and fill the gap. Of course it seems somebody's propping it up so it might not go anywhere.
This has been repeated 5 times since Jul bottom, strength WILL continue all day, but for 20 min corr, as it brings in buyers and prompts short covering. Especially after big corrections the first rally day, if outsized, will lead to strong rally over next two weeks. Don't fight it, Just might be time to make money on upside, this may be your last good entry.
It will be interesting to see if the market gets gapped up again on Monday after the failure to move it higher before the close.
i agree dave, it would've been a lot better for the bulls if the market closed closer to its high...but, then again, it's the weekend before 9.11 so they may explain some of the hesitancy...(shit i feel like a CNBC reporter, grabbing at anything to explain the day's action )
You called it first. My system said to stay long, but my gut said to not trade, so luckily I didn't today.