Yet Another Gap And Trap

August 30, 2002
Don Miller

Trader response to Michigan
Sentiment (as expected) and Chicago PMI (stronger than expected) aided
yet another gap and trap open off the lower 13- and 60-minute Bollinger bands.
The SPYs are thus far putting together a slightly better showing than technology
as evidenced by an initial midday hold of 13-minute trend support in what is
quickly becoming very light trade. Bottom line is fire up the grills and let’s
get back at it on Tuesday.