4:30 AM ET
Well, doesn’t this look head and shouldery?
Click to engorge.
Is there any downside potential here? 2-3 day cycle projection says only 3597.
Hey, but at least no massive opening gap in NY.
Or at least, not yet.
Follow my comments, if any, during the day here.
I hate this bizarre pattern of massive opening gaps day after day in NY. But at least my chart picks have been on the right track since last Monday’s debacle. They’ve recovered to a 3.3% average gain on a 5 day average holding period. 5 days! And that includes the impact of entering UAL 20% above the prior range on last Monday’s absurd gap. It has recovered to a loss of just 0.4%. All theoretical, of course.
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