a lot of similarities in different indicators
i was surprised to see a lack of retest after jan 28 - instead we just kept going up
so why wont we do the same again
ew patterns completed?
nymo after all still has higher highs
normally after yesterday's move i would expect any gap up to get sold, but that did not happen after jan 28
maybe vix corrects a bit and then goes for 21-22 at least (what it "should" have done after jan 28)
one main reason why i think this is different than jan 28 - spx has two open gaps - should close the one at 1311
POT also has several open gaps - could be a vst buy around 162
What is different than jan 28
Started by
relax
, Feb 23 2011 03:53 AM
1 reply to this topic
#2
arbman
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- Traders-Talk User
- 19,504 posts
Quant
Posted 23 February 2011 - 10:15 AM
One of the biggest differences was that a lot of people were selling short (providing upward fuel) after the Jan 28th sell off and a lot of people are interested in buying this time. So, it is likely to bounce a bit and head straight to fill the gap...
Edited by arbman, 23 February 2011 - 10:16 AM.
