Gap Up

A better question is what kind of trend after a gap up or down. A gap up or down does not necessarily signal the direction for the day. Look at today's gap down. Today was an uptrend day from 15 minutes after the open.
 
Up, I would think. We are very close to the weekly trendline support in the U.S. dollar futures. Thus within a few days a rebound in the dollar will probably occur and that may take the market down a bit. We are also virtually at the May high in the monthly ES. Some resistance there would not be unexpected.. If I were a swing trader, I think I'd be waiting for a little pullback to buy this market.
 
If you are going to gloat, them I an forced to be indelicate and point out that the ES opened with a giant gap up of 3 ticks. :D
 
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