The way that the market jumped at the open, I didn't think that it was too concerned about closing the opening gap. But it came back to close most of the gap.
Housing news at 1000 ET gave the market another bullish bounce. So far, the first 30-minute pivot high is providing support. The high volume areas of Thursday and Friday are providing resistance, keeping the market below a 62% correction of Friday's bearish range. Going into lunch, the market is resting on top of its VWAP line.
Remember to buy at support, and sell at resistance.
Charles
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