We Are the Bankers

---

Please sing along to the tune of "We are the World" by Michael Jackson and friends:

"We are the world, we are the bankers
We are the ones who force a brighter day
So let's start giving (your money away)
There's a choice we're making,
We're saving our own butts
So hope we'll make a better day
Just buy and hold."

Due to a slight assist by Central banks from every major continent, the market staged a stunning reversal and recovered what it lost from the pre Thanksgiving slide that lasted for seven straight days. However, before one becomes too jubilant, the rally was partly the result of dollars being made more available by the central banks as the flight out of the Euro was putting extreme pressure on the markets. Not really a healthy sign. The central bankers deftly ambushed the market as they intervened directly after the rating agencies downgraded the big investment banks on Friday and the shorts piled in.  They waited until the market opened on Monday morning to make their big announcement. On an upbeat note, the economic news coming from the US after Thanksgiving was no turkey, resulting in great sales on Black Friday and even better on Cyber Monday. Then of course the un-employment number reported on Friday dropping to 8.6%, the lowest it's been since the meltdown in 2008. However, to clarify things, the sovereign debt issues still hover over Europe and the intractable budget and tax issues here at home have not been resolved either. So the 100 trillion dollar question that every investor/trader has to ask themselves is, if the coordinated response by the world's central banks to the dollar liquidity crises, repeatable? Can it solve the looming issues in Europe?

Did you see the special video on the HotScans Blog?

With all the gaps we're experiencing in today's European news driven markets, it's very important to know the key reference points that can tell you whether to have a long or short bias after a stock gaps. Some of the most influential price levels on gapping days are known even before the gap happens! Do you know them?

In the latest post on the HotScans blog, MarketGauge co-founder, Geoff Bysshe shares a video that is normally only available to members of our Opening Range Success Formula Members. In this video you see how Friday's markets responded to these key reference points that you should know on any gap day.

In addition to the key reference points on the day of the gap, because of Friday's action there are some very interesting key reference points that will line up for Monday's trading.

You can see the video here:

https://marketgauge.com/hsblog/