WYNN and MGM gaped up and there was an opportunity to get in on a retracement (support at the 9EMA on the 5-min chart). The path up to the morning highs in WYNN was pretty choppy and not providing confidence in strong continuation.
RIMM was similar in that it broke out but as the market turned shares were being dumped. It did provide a good long opportunity later in the day following an inverted H&S bottom pattern.
Relentless upward drift in the SPY on zero momentum. Perhaps a sign of short covering rather than new buying?
Below is my 5-min chart that I marked up throughout the course of the day. I was able to get a good read on the first half of the day, but the choppy climb up from the day's sell-off was a bit harder to follow.
It would be picture perfect (on the weekly chart) to see next week give a blow-off top right into the resistance level left by October's gap. Or even a blow off top in the week after next to fill the gap. One can dream.
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