Market Gaped UP and never looked back since future reopened for trading after the close yesterday.
Notes:
- Bend over and grab the ankles pattern played out to the tick
- Relatively low volume for the move of this magnitude
- Adv - Decl recorded highest reading since April 2nd
- Momentum indicator recorded a reading only seen 2 other time since bear market started, ironically enough last time it was seen During January 6 high at the same levels as ES is right now.
- Only overhead resistance left before highs is 935.25 gap fill.
- Put/Call ratio which was screaming buy at the bottom / and head and shoulders break down is not signaling buy.
- With 35 minutes to go, already had incredible volatility expansion across most the instruments I track, here is % of ATR:
CDU09 168.7
SFU09 136.2
YMU09 148.5
NQU09 138.7
GCQ09 120.6
ECU09 119.0
ESU09 128.4
ADU09 108.1
JYU09 97.3
BPU09 79.4
To summarize, this incredible OPEX squeeze has created some rare technical setups, next step is to take advantage of them now.
As always it pays to fade the crowd, and it seems like bull train is way overcrowded.
Will post charts and details later today. Lots to look at.
Cheers and be safe
Vlad