Once again the market gapped down at the open but bearish exultations were short lived as price quickly turned and proceeded to squeeze higher throughout the rest of the session. And unless futures turn on a dime in the next hour or so we are looking at yet another gap lower at the open this morning. Are we having fun yet?
With equities running in circles and March nearing its end I thought this was a good day to put together another one of my notorious market momentum musings. Things have gotten a bit more messy lately on a day to day basis, which is usually when I decide to step back for a mental cleansing by means of a medium to long term outlook on things.
I promised you a comprehensive momo update and just like a Lannister the market mole always pays his debts. Except here at the lair you won’t have to wait almost two years for new episodes. Come rain or shine, I deliver daily and I’m known to spoil my intrepid subs in particular. That said, if the GOT producers get away with taking an 18 months break, all the power to them!
Emotions are running high wherever I look, and I am not excluding myself as a year full of volatile gyrations have left their mark, whether or not one is willing to accept it. From the onset of Evil Speculator my main mission here has always been and will continue to be to keep you guys ahead of the tape by providing you with as much actionable and objective information as possible. And there is a lot to talk about today, so let’s get to it.