Today was about as pretty as a trend day can be, gapping up and never looking back. These are rare events so I thought I would post a chart of of it.
Trend days often start with a gap up and they close on their highs. Price tends to follow the 20 ema. Today there was a fake out near the close with everyone expecting a sell off which never materialized.
After hours the ES has not pulled back significantly (as of 9:58 central) which is bullish.
This trend day was also interesting because it came on the heels of yesterday's almost trend day which did sell off in the last hour.
Rock,
ReplyDeleteYou can put up your normal post. This was just for reference.
I also would characterize this as "creeper mode" where price just creeps up all day.
ReplyDeleteThese types of days can be devastating for those who try to short the trend day or are looking to cover on the pull back that never comes.
Got caught by the lack of end of day drop. Took a hair cut, but I rebounded this morning.
ReplyDelete