Tuesday, February 16, 2016

Feb 16 - Another big gap up but will it hold?

Caught a tiny bit of the up move today but very little and flipped to a very small short at close.  I am not expecting a big pullback as the intermediate term looks pretty bullish to me.  Again volume pretty weak (which is not an indicator in itself, more of a slight warning/ confirmation signal) but price only pays.  Definitely not an ideal place to go long although it looks like the trend has changed.

Basically a short term sell signal on the hourly.  There's a good chance this is a 1-2 day event before going back up.  On a gap fill, looking definitely to go long.
 30 min pretty overcooked but expect that this will recover pretty quickly.
 Two large unfilled consecutive gaps which make things a bit stretched in very short term



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