Navigating a Week Full of Gaps | Trading COST, TSLA, JNJ

Bad breadth from Tuesday is followed by a huge gap-up to start December

Technical Breakdown 

• NYSE Breadth: 89.6% downside volume (!)

• NASDAQ Breadth: 69% downside volume

Shenanigans? Yeah, you could say that. Yesterday’s late-day MIM reading flashed $9 billion to sell, erasing any late-day hopes for the bulls. 

But that didn’t include the post-close action. Almost immediately after the 4pm cash close, we saw the S&P futures expl…