Well, as predicted (not a hard one-actually I couldn't be wrong, price had to move out of the triangle at some point, I guess it could have run higher as Technical Analysis teaches it should) price is falling out of the triangle that has been there since pre-market.
Looking at the opening indications (and I gave it enough time), there's no confirmation of the open for any of the majors except the IWM, perhaps that's part of the reason CONTEXT was looking worse overnight and this morning.
Here are the averages and opening indications.
This is the DIA with the fastest 1 min chart, which should be able to confirm the gap up if there was underlying strength, in that case 3C would be up where the yellow arrow is, far from it though.
The Q's didn't confirm either, 3C would have had to make a new high on this chart with price on the open.
The SPY is actually leading negative here.
Only the IWM confirmed, it also had a pocket of accumulation at the 1:30 dip yesterday.
Aren't we glad we sold those GLD calls when we did yesterday, momentum and time decay are killers.
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