Gap Open to New Record High

After a gap open higher a new all time high was made at 2899.25.

late summer trading rally

Large gaps are rarely filled on the day or day after they are created, and when they happen to begin a week can often lead to a new short term trading range.

A note of caution; the recent slow summer trade has been very mechanical and on poor profile structure, including the prior two regular trading sessions with buying exactly at the half back levels. The odds of at least a liquidation break are increasing, whether any volatility will return before Labor Day is the question.

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