Not only was the market not able to close the gap, but it could not quite correct back to the Pivot Line. Just too much demand relative to supply. At 1005 ET, both Energy and Financials along with the 5-minute $TICK were in the Green. Everything turned Green at 1025 ET. Once the market traded above the VWAP after 1021 ET, the VWAP Line became support. Resistance was then Friday's high at 895.50, which has now become support as of this writing. However, going into the European close, we are starting to see a decreasing $TICK momentum.
Charles
No comments:
Post a Comment