Marvelous Mondays

There's nothing like a ferocious gap to start off Turkey week:

Within the first 30 minutes, we basically priced in a full week's worth of gains and spent the rest of the day chopping around due to every tick in the dollar. Most of the short-term indicators I track, like the equity-only put/call ratio for example sounded off a red alert on this morning's big gap:

As I mentioned on in my daily notes, I also didn't like the big volume skews to the downside amid market strength among other things.

Yet, putting those negatives aside, the Dow managed to set a new recovery high at 10,450 and both the Russ & Nazzdogs were leaders in the upticks. In addition, today's move negated yet another head and shoulders pattern and sent us back to the upper end of this trading range between S&P 1102 & S&P 1113.

So, where does that leave us tonight? In sum, we are....

Read more of my after-hours report.