We can see how the upside breakout failed after sellers entered in force, leading us back to and through VWAP and creating a range day. This places us in consolidation mode following a solid bull move, with a range clearly defined between the overnight lows and today's highs. As I've suggested in the recent indicator post, the momentum indicators tend to peak ahead of price, leading me to believe we could test range highs in the days ahead. I'll be watching other risk assets to see how they behave during this range period.
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1 comment:
$VIX is down around 18. But the BDI is up 300 since the Feb low. So is it time for a pullback, or are we going to go on a big run upwards this time?
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