MJTK: Fridays trading imho was the break out we've been expecting. Seems to me MMs teased my trend line for an incredible number of days. For me Fridays break out was as powerful as I've seen in a while. Pull backs were minimal and any one entering was pretty much forced to hit the ask. I think we have every right to expect a great trading day on Monday..
Given Fridays trading I would expect to see a gap up... But MMs are tricky suckers. Fridays trading was strong enough that I don't expect a lot of profit taking at the open. Their will be some though.
I wouldn't be at all surprised to see us pressing .09s on Monday. Given our consolidation time and high volumes. I'm not sure we see a lot of resistance until the .012 area. If I had to call an area for a potential consolidation /profit taking area that might be it. Also note there's a gap at .025. It's my belief this leg could take that out..
Now we had the "break out". I'm going to spend time this weekend looking at things.
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