Seems Friday is a good day to watch for a Monday long. Last Friday we were hovering around same level of 450 to 500 points down by lunch and then we dropped the extra 400 to end 900 odd towards close. So anyone wanting to choose if we might repeat a similar pattern and then open like a volcano on Monday again? Just for the fun of it cause none of know what's actually going to happen ;-)
CPS, in my experience, things rarely work out twice. Traders rode out the gap the first time, but I suspect that they will be a lot more cautious this time round. Whatever way you want to look at it, you have real conflicting info at the moment. The candle formation after the drop, gives a clear reversal signal (its a graveyard doji, I think?), and then we repeat the excercise with a reverse candle formation. Now, i have a system which says that if we pullback midway into the big up day on Monday, then you have yourself a really powerful long signal ( a graveyard doji that has been tested and held)
I'm tempted to enter and leave a long running over the weekend. However, the romour mills seem to be working overtime. Heard of strange things like Germany exiting the Euro and going back to Marks over the weekend. Anyway go figure . . .