Wednesday, May 27, 2015
May 27 - Buyers step in once again
The last 4 times we have seen a big sell off concluded by late day buying surge we have seen at least 2 days of upside. So far it is setting up for the same. After getting stopping out on the open yesterday, I re-entered longs EOD. Although this is a good set up, at some point it will probably fail dramatically with a gap down instead of a bounce. In addition, it isn't good that we dipped back into consolidation after breaking long time resistance.