Gap closing --> $200 profits
5 min Emini Nasdaq 100
Hi,
How is it going lately?
Market gapped up today only to cover the gap vigorously... We can tell that market sentiments is unstable...
At least the coverage of the gap tells us that the bears think that market is over exuberant with all the positive results..
Are we really recovering? Is the economy really getting better? I don't know... at least I know that since the gapped covered...
I am looking for another chance to go short... I got my chance when price corrected to the moving averages and bounced down coupled with a down turn in stochastics... I shorted 1 contract at 1759 and exited only when stochastics cut back up from the oversold region.. at 1749
profits of $200.