We saw bullish momentum carry over from the Globex open last night, continuing the strength from last week. In the early hours of the overnight session, there was a manufactured move lower—likely an attempt to run stops or shake out late longs from last week. That move was quickly reversed, and bullish momentum resumed.
At this point, we're in price discovery mode. While I had hoped the upper deviation might produce a more meaningful reaction or healthy pullback, that hasn’t materialized so far. As the saying goes: "Just when you think it can’t go any higher—or lower—it usually does."
At this point, we're in price discovery mode. While I had hoped the upper deviation might produce a more meaningful reaction or healthy pullback, that hasn’t materialized so far. As the saying goes: "Just when you think it can’t go any higher—or lower—it usually does."
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