Gap Fill Friday Wrap Up
Today was what Scott would describe as a post ramp consolidation day. Not much edge to be had after we retraced about 20 handles on the SPX since the Thursday low.
The ZL remained pretty unimpressed during the gap up, as well as during the filling of the gap down which took us through another NIN pattern (look at the N yesterday the I up and then the inverse N today). Hey, speaking of which:
Nice sound track for this post 😉
Anyway, the ZL didn’t expect much of a resolution all through the session. Accordingly I did not expect the spoos to make it through VWAP – and I was proven right in the end. So in hindsight many subs surely appreciate that I told them to stay out early on – there was no edge to be had.
Geronimo tried its luck on the mid day swing up but got in a tiny bit too late and thus missed its target by three ticks, which in the end resulted in a seven tick loss (i.e. 1.75 handles). I would have preferred it had stayed out but the system is the system and we follow it.
Have a wonderful weekend, my intrepid stainless steel rats. Next week should be extremely interesting 😉