Gap in the Open Markets Sucks the Suckers Into the Trap

"The market is weird. Every time one guy sells, another one buys, and they both think they're smart." - Unknown

NEW YORK (TheStreet) -- We saw a good-sized gap open in markets and many leading stocks to open up the week.

There isn't much to do unless you had a vision of Friday and got long. I did not, although it seems many "traders" on Twitter seem to have nailed the move.

It really amazes me how clairvoyant some of the people are. Anyhow, not much action after the gap open leaving me without much to consider in terms of trades.

August is generally a very slow month and charts are not telling me it will be any different this year so I'm watching closely for failed moves, of which we've seen so many this summer.

A nice opening gap above the 194 buy area would have sucked in a lot of people early but then we began to reverse.

As far as I can see, we are still caught between 191 and 194. The action was pretty good today but I need to see it last and, as I said, this is a weak time of year generally so it's hard for me to get too excited just yet.

Have a wonderful evening and Tuesday.

Warren Bevan

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

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