Here we go gapping up again. -sigh- I certainly don’t trust this gap since this is a Fed interest rate decision day and it’s options expiration this week. Whether the pop sticks or not, I’ll be sitting on my hands until after the Fed decision. The market continues to act poorly — selling off in higher volume and rising on lower volume. I doubt that we’ll get a bottom that sticks until the buyers give up in the morning. I’m still waiting on my big hammer day. I should probably take the rest of the week off due to the likely expiration pinning, but I’ll hang around looking for a few daytrades.
But options week in March tends to be up…
50-day MA line is curving downward for the first time in a year.
Didn’t quite get a hammer today on the QQQ.
We should be getting near the point where the shorts get head of themselves and big squeeze causes a pop.
Amazing how the market always overdoes it, then overdoes it again.
Not quite a hammer today, but the last minute buying spree into the close created potential “changes of character” in several stocks… The proof will be in the pudding of course as it seems every month expiration week gets more and more volatile – chopping up more wood than a woodchuck would chuck wood.