C: Pre-earnings run pattern ahead of Monday report
Citigroup has a pre earnings run pattern which tends to be caused by Pro Traders setting up to take advantage of the earnings reaction. The company will report its 1st quarter earnings on Monday. C had a reactionary gap up at open caused by the JPM gap today. It formed an indecision day candle rapidly. The early gap could interfere with the technical patterns for the report release day.
Martha Stokes, CMT
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