today's close gives a very nice hammer candle. while we were not genuinely oversold by RSI measures on daily or 4h, with a fed meeting coming up, it seems likely some uncertainly will filter out of the market. that small gap could fill before the end of the week in no time.
Note
well, this was pretty prescient. we filled the gap and even closed over it, so one must expect a few more days of rallying coming. 4400 seems very possible for a short term top from here.Note
we have another one of those gaps to potentially fill, almost at the same place with a possible double bottom. are we going to have do-overs? Note
omg, gap city. now we have a bull wedge (hard to say we have volume support given the intraday view - I prefer these forming over months of time with daily bars, but whatever). looks good to fill that gap int he next 1-2 sessions to 4110, then perhaps after cpi we make an attempt at the higher gap as a do-over. I think we want to get short on the higher fill ~4300.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.