Monday, May 2, 2011

Trading Osama: Phase One Complete; Now for a Bit o'Downdraft (DIA; SPY)

You can double-check the earlier post here.
[or search the blog for 'hubris' -ed]

The Dow Jones Industrial Average closed 68 points below the day's high, the S&P was nine points off the highs.

Here's the Friday open-Monday close chart of the DJIA from BigCharts, note the gap opening and the rally off the lows in the last half-hour that failed to exceed the Friday close: