Ping Pong
Ping Pong
After a little short squeeze in the past two sessions it apparently was time for the obligatory shake out. Cannot really pick a direction without one – that would be too easy after all. Seriously though – there’s nothing really new to report on the equities equation. We remain stuck in that dreaded volume island which formed after a low volume holiday spike higher. And now we are simply dealing with the consequences.
Unless we breach above 1850 or drop below 1810 we may have to face more of the same pain. No sense in complaining about it – it is what it is. So let’s revisit our YM campaign instead to see if there’s anything new on the horizon.
In fact there is – it seems like we are going to paint another inside day candle today (plus an NR4) and that means that our ISL implicitly advances to the short trigger. Why? Because per the rules we would go short there, of course. However, if that happens the Mole has other (more devious) plans – please step into my lair:
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Cheers,
