They’re shaking the trees this morning. Those gap closers did indeed step in and not only closed the opening gap but they’ve now taken out yesterday’s high and are testing the 2000 level and the top of the triangle on the NASDAQ. Here’s a look at this morning’s vertical move on a 15 minute chart:
And here’s what the daily chart looked like around 10:30:
Despite the early strength I still have the nagging feeling that we’ll just drift back towards the unchanged level.
Hard to imagine the market being anymore boring. Good grief. Still long and trying to be patient… Semiconductors are my largest holding, looking like a bad chart EXCEPT for the potential double bottom.