What a day! Was expecting the DOW to be red today. However, it just kept going. No bailout news or other news would slow it down. This doesn’t mean that it will continue going up. It might have a little correction. It pierced thru the 8845 level mentioned in the yesterday post. It also opened above the previous close and stay above the 8580 mark. It opened and closed above the trendline. The gap open is normally filled and that might not be a good thing here. But red or green, to a trader only movement matters. The direction doesn’t. Especially, options traders do not care so much about the direction but more about the movement/volatility.
Volume is interesting to note. Volume is slightly higher and holding ground since the last 700 pt drop.
Tomorrow might be red to do a short term correction – just a little. Or it might continue on with the green candle.
