Market Sluggish, Holiday Season --> Close Gap --> $520 profits
5 minutes Emini Nasdaq 100
Hi,
Market is closing 2 hours early today... there is not much news and movement... and we can tell that there are few market participants by the low volume in the market. Most people are hunting for bargains at Wal-Mart?.. ... Well, market opened gap down today.... A 13 point gap.... I wasn't sure whether this will close or turn into a runaway gap....
At 9:50 however,,, price action showed signs that it is attempting to close the gap and MACD turned up.... I longed 1 contract at 1814... at 10:15 I longed another 2 contracts after price was supported by the moving averages... Stochastics also turned up from the oversold region... My price target was naturally yesterday's close... At 10:50, my target was hit and I exited at 1824 with $520 of profits.