These big green today’s candles after a down gap has something in common:
A: They are green but most of them closed below yesterday’s low! Which makes them a pseudo Green!
B: Most of them barely fill the gap, and close below their support level!
C: None of them cross the downtrend line in hourly chart!
D: While price went up volume did not during today’s trading session!
IMO: Today’s gaps were clearly filled by irrational exuberance behavior of retail investor.
Apple hourly chart:
Microsoft hourly chart:
Amazon hourly chart:
Google hourly chart:
Facebook hourly chart:
Tesla hourly chart:
Conclusion: price movements will be continued in direction of the Gap in the coming days.
A: They are green but most of them closed below yesterday’s low! Which makes them a pseudo Green!
B: Most of them barely fill the gap, and close below their support level!
C: None of them cross the downtrend line in hourly chart!
D: While price went up volume did not during today’s trading session!
IMO: Today’s gaps were clearly filled by irrational exuberance behavior of retail investor.
Apple hourly chart: