Don’t Trust Gaps Up

The market will find support and it will bounce, but we need to make a higher low.

PRE-OPEN MARKET COMMENTS MONDAY - During the last week we witnessed persistent selling pressure. This move is fairly deep and the drop has been steady. Buyers have not shown any interest yet and the series of red candles confirms that. If you look at the daily chart you will notice that there have been many gaps up... just like the one this morning. They all failed last week and the gap reversals helped to generate downward momentum. I would not trust this gap up for that reason!

Daily Bulletin Continues...