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Rant & Rave Blog

Markets Jump Higher Only To Drop And Fill The Gap

Posted by InTheMoneyStocks.com Thursday, June 04, 2009, 08:00PM ET

Read 167 times

Markets Jump Higher Only To Drop And Fill The Gap
The market gapped higher and stayed there for the first 10 minute candle. Most likely short covering keeping it higher as people went into panic mode following the jobs report.  However, after that we have seen a monster drop in one 10 minute candle on the SPY to gap fill support.  Note a bounce should happen.  This is where we start to look for pattern to tell us where the next move will be.  The dollar is the key here.  Dollar jumping big to the upside putting pressure on all commodities.


RealTick graphics used with permission of Townsend Analytics, Ltd. ©1986-2009 Townsend Analytics, Ltd. All Rights Reserved. RealTick is a registered trademark of Townsend Analytics, Ltd.

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