Updated

Exhaustion Gap Confirmed

Sell off finally came after a post-gap mark-up of approx. 600 pts to 31116, the third trading day after the exhaustion gap.

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Later check up of OI at March proved my point. There was over great deal of March contracts opened on 22 Feb trading session.

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Price volume action is quite good for the bulls right now: price getting more consolidated and volume at night market is moderately vibrant.

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A gut feeling that for a complete bearish run, there should be an accelerated sell off. Atm, market sentiment is not panic enough.

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bear and bull movement in option market was tie today.

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big 1m (500+ contracts) volume in NY session, tend to be bearish.

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still in short, not comfortable with the pullback this morning, though.

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Feeling quite lost, have closed all my short. Needa go sideway to get back myself.

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No thing indicative in option market, call/put trades were neutral while most movement today was short against volatility.

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Let's move to a new post for continual analysis.

history doesn't repeat itself but it rhymes

ffaz

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ffaz