As stated in the Weekly Perspective - we had an unfilled gap on the VIX at 17.70. This morning we gapped up then filled that gap. Now we have a downside gap at 16.84 which would be the next plausible target and we see the market indices rally.
Playing in a bounce in gold. Looking for price to extend to upside targets of 9.42 and 9.93.
Beautiful breakout after classic gap up and consolidation around the 30 minute opening range. Entered around the 14.7 area 3 times and unfortunately stopped out due to noise. In events where luck and randomness play a large role - Focus on the decision making process. #
Pull back to open gap at 209.82 followed by resumption of selling down to the unfilled gap at 201.92
Russell 2000 broke out to all time highs, now retracing to previous resistance; let's see if it acts as support. Also a confluence area with the 10 and 20 SMA possibly adding support.
Selloff to the 61.8% retracement. If we don't see buyers step in then we can expect a full retracement of the current swing.