Gap Up To A New High – Use Caution

February 7, 2024
Author: Peter Stolcers, Founder of OneOption

This is typically where we see gap reversals. Wait to see if the gains hold.

PRE-OPEN MARKET COMMENTS WEDNESDAY - The market is digesting gains. We have seen some selling pressure the last two days. The market could compress for a week at the all-time high and that would set the stage for another leg higher next week. The market could dip and that would keep us sidelined with swing longs until support forms. We want that dip to be brief and shallow. 

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