All indexes gapped open higher built on global market's strength from yesterday when US markets were closed. But right after opening they started selling and turned red by mid afternoon. The squeeze and confusion continues. Both SPY and DIA are forming a symmetrical triangle consolidation. Symmetrical triangles are a neutral pattern and only a breakout will guide the new direction.
Gap open caused our XLE entry to not fire. We did enter ILMN and ENS when we got a chance of entry in late morning. Our 1st target on both of them was hit later in the day and we have a free trade on both of them now. MON also gapped higher and didnt give a chance to enter. I will still watch MON and XLE for a chance of reentry as both still look good.
UNG is acting fine so far but its reaching a key resistance between 44-45 so I might book some profit.
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