This morning’s little hype fest is being closed out. Bears may be getting excited by the in-day reversal. But they should realize that the gap is being closed within what is still a short-term uptrend. Lose 3075 (SPX) and then maybe we can start to talk bull trap. Maybe.
DJIA would have further to drop to fill the gap.
NDX is just about there.
The all-important leader, SOX has a bit more of a suspect feel to me because its most recent high was barely a new high. But the trend is up and it’s looking to fill the upper gap.
Subscribe to NFTRH Premium (monthly at USD $35.00 or a discounted yearly at USD $365.00) for an in-depth weekly market report, interim market updates and NFTRH+ chart and trade setup ideas. You can also keep up to date with actionable public content at NFTRH.com by using the email form on the right sidebar and get even more by joining our free eLetter. Follow via Twitter @NFTRHgt or StockTwits.
