Thursday, December 9, 2010
Gap Down Signal
I am getting a gap down signal. The market feels invincible but it is finally chopping and showing more intraday weakness despite the high levels of optimism. The data is overwhelmingly on the bear's side. The price action is moving there. I am giving the short trade a few more days to ripen.
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5 comments:
Is a gap down signal a feeling you have or is it based on an observation?
If I had a nickel for every time Owl had a gap down signal, I'd be a rich ...
My prediction is, whatever gap we get won't be significant. -Petsamo
I have a proprietary indicator that I look at which is based on the trading for the past 5 days, both intraday and gaps. I only mention it when I get a strong signal, gap up or down.
Thanks. I asked because I noticed you were good at calling the direction of the gaps.
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