Quick take on markets – we knew from pre-open futures to expect an attack on yesterday’s highs off the daily charts – this will trigger a number of new longs for traders and investors all around the world. The big question is, are new buyers lined up behind these first folks, ready to prop prices up further? Or will the first foray up fail?
I won’t be adding this morning until the first retracement comes through, and then price pushes up again, proving that it can.
Also remember that the two broad indexes – COMPX and NYA – both have failed tests of tops, until proven otherwise.
04.12.01 09:56 #