OK, looks like we’re going to gap down below the Friday’s low so my speculation for a green close is very unlikely now. General rule of thumb, if such a gap is not filled until 10:30 and after 10:30 it has a new intraday low, then statistically it will be a strong down trend day and eventually CLOSE < OPEN, i.e. don’t expect an intraday reversal. So be careful buying dips.
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Shorts have had this sort of excitement like today for a loooong time.
ReplyDeleteBy filling gap you mean - Friday's close-today open right?
ReplyDeleteYes, today's high must be higher than the Friday's close.
ReplyDeleteThanks for the Pre-Market Briefing.
ReplyDelete