today's close gives a very nice hammer candle. while we were not genuinely oversold by RSI measures on daily or 4h, with a fed meeting coming up, it seems likely some uncertainly will filter out of the market. that small gap could fill before the end of the week in no time.
Kommentar:
well, this was pretty prescient. we filled the gap and even closed over it, so one must expect a few more days of rallying coming. 4400 seems very possible for a short term top from here.
Kommentar:
we have another one of those gaps to potentially fill, almost at the same place with a possible double bottom. are we going to have do-overs?
Kommentar:
omg, gap city. now we have a bull wedge (hard to say we have volume support given the intraday view - I prefer these forming over months of time with daily bars, but whatever). looks good to fill that gap int he next 1-2 sessions to 4110, then perhaps after cpi we make an attempt at the higher gap as a do-over. I think we want to get short on the higher fill ~4300.