Major indices gapped 0.8%-1% higher at the open Friday and followed-through sharply to the upside the first 30 minutes of the day. However, from that point, all 3 major indices ground sideways in a tight range the rest of the day.
All 3 are now well above their T-line (8ema) and printing large, gap-up, white candles with no lower wick and little upper wick. All-in-all, this completed the first up week of the month for any of the major indices, delivering 5% to 7% gains for the week of needed over-extension relief. However, with 30 minutes left in the day, all this action has taken place on low volume and at this point T2122 is telling us we are back in overbought territory.
✔ Friend, Would you to be alerted when Right Way Options takes a Credit Spread?
✔Want to learn more about the Support & Resistance?
✔Want to learn more about price action?
Did you know that when Right Way Options places, closes or adjusts a trade you are alerted in the trading room and on your smartphone?
For a limited time Friend, you can receive a free month when you buy a Quarterly Membership?
And did you know you can receive a 30% discount with PROMO CODE: EXTRA30
Investing and trading involve significant financial risk and is not suitable for everyone. No communication or chat sessions should be considered as financial or trading advice. All information is intended for educational purposes only. Terms of Service
Post a Comment
Post a Comment