The continuation of the TACO rally from yesterday can be seen by way of the price gaps which help illustrate the varying degrees of resilience in different sectors of the market. On the /ES, the gap (arrow) remains unsealed, although almost all the damage has been undone.
On the /NQ, the gap was sealed just hours ago.
While on the crazy-strong small caps, /RTY, the gap was sealed yesterday before the TACO event even took place, and we are once again at lifetime highs.
In the midst of all this, of course, volatility has been wiped out again, having gone from about 15 to 21 to 15 again. If you’re feeling seasick, it isn’t just you.
And over in precious metals land, /GC is down a little, having given up for now on its ambitious to conquer the $5,000 level.
I just got my Slope Pre-Open Journal, and I can tell it’s going to be one of my favorite tidbits of the trading day. What’s cool about this, which is why I keep encouraging you to sign up, is that in addition to general news about politics, the world, and business, it also provides (for premium members) a bespoke section based on the watch list of your choice. In my case, I’ve selected my “xx-Short” watch list, and I am presented with what it considers are the most salient stories among that universe of symbols.
