Isn’t it nice when an overnight gap makes breaking prospective resistance unnecessary for lowly day-traders? Today’s open sliced right through prospective resistance at the 10/20/50-day moving averages. As is typical for large gaps, the first hour retest of R2 held as well, although there is a growing divergence in VIX readings — put protection anyone? Also note energy highs affect on the Transports….

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  1. 04.01.11 – (Another) Shiny New Month
  2. 01.28.08 – Pivot Resistance but Strong Tick
  3. Three Headed Monster
  4. 05.28.09 – Fast Breaks
  5. 12.14.07 – Pivot Resistance