Not Taking Longs...

The fact that we spent so little time down at 1100 yesterday makes it less surprising that we came back down to this level so quickly today. The fact that we didn't quite make it up to yesterday's high this morning and then filled the gap so quickly is not a good sign for the market. I am slowly turning my bias to the short side. However, market tops often take time to play out. So we can still move back up and flirt with the high 11 teens... But only weakness showing now... Scalp long is OK, but nothing to hold yet.

We Have Unofficial Gap Fill

Wow, I wasn't expecting that to happen so quickly. Well, we don't quite have official gap fill yet, so still a good chance that happens at 1103.

I was looking for 1098 yesterday, so maybe we will still see that price today. Not in a rush to get long yet, but thinking about it anywhere in the 1098 to 1103 range...

Will consider short sided scalps in the mean time...

Nice Gap Up This Morning

I didn't enter long last night and the market did not spend any time down in my 1098-1100 support area. So missed the opportunity to get long. Market is strong this morning, but has just reversed on some resistance in the 1112s. I do expect to retest the 1118 highs today. I will only be looking for scalps for now since I missed the chance to get long last night...