Tax Day

Looking at the daily returns for April from 2000-2009 April 15 has the poorest return for the month. You would think since we are falling into the turn date window of April 14-19 that this would be an ideal date to initiate a long awaited sell off.

Not the case. Although there was paper sellers off the open in the Spoos the locals have been able to keep the market above the opening range(OR) , Spending time above the OR will attract buyers and piss off sellers who will eventually give up and short covering rally may finish the day. We are at 1209 even as of the writing. Notice how we 1 ticked the OR low another sign of bullishness. Lets see what the afternoon brings but so far I haven't seen a change in the "Continuity of Thought" that would suggest we are changing direction - keep in mind that could change before you read this post - So trading goes.