[TinGull]

Here’s a pattern that a few folks were following today in the chatroom. it was a rising wedge and as you see…there was a break out of very high comparative volume. BUT…look at the delta. On a breakout, we’d expect to see LOTS of people buying this breakout for it to move. There were net +300 contracts on that 2 minute bar. Just within the noise. That was the first MAJOR sign that things were going terribly wrong with that breakout. Notice the next bar was down, closing back inside the formation. Failed breakout!

This is a great opportunity to get short. Did I? Nope…I was making lunch!