12:01 pm EDT: The US Dollar Index broke through resistance, making it more likely that there will be upside follow through next week, correspondingly weighing on equities. The ES was able to rally early, but was unable to capitalize on bullish seasonality, having now given up its gains and testing the support area containing the overnight low and weekly pivot, from 1076.50 to 1077.25. While it is currently holding such support, upside potential looks limited absent surprise favorable news.
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sdg
on June 4 2010 at 16:48:42
Bob yesterday you said … if market opens with a large gap and less than 50% gap is filled then should be trend day. Worked well today. Have a nice weekend.
Jeff
on June 6 2010 at 01:04:23
sdg/Bob,
I was paying attention to that also. I went long at the open but got nervous when we when couldn’t fill 50% of the gap. Sold for a small profit before things really fell apart. Thanks Bob!