CME_MINI:ES1!   S&P 500 E-MINI FUTURES
Daily Oversold, If the Double is not violated, and confirms. Watch for the reversal, that might take the ES to test the next TL resistance. The Double bottom target would be a good place to hold on with tight stop. Provided the DB             holds and confirms..
Despite the Rally in price, the internal shows no strength, but no conviction. This could point a correction very close by, unless they turn bullish before close.
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If you love to focus on Index (and its derivatives) Always learn, what the internals are telling you. The best timing tool, Apart from the Price action, to Time Bottom and Top. This need excessive coding, If I have time, I can code this stuff. Trust me, it will not take more than a week to learn this.
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You looking at a mix TICK, TRIN, Advance/decline, % above/below 20/50sma?
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ucsgears PRO Justiceisfalse
And VolSPD. Mostly I focus on, TICK and VOLSPD, I have a txt alert for TRIN extremes via TOS. The best source I use is stockcharts. TV subscription rates are high.
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I might be able to get you some VERY cheap granular tick data via http://alphamodus.com/alphamodus/
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Monday Gaps have the lowest probability for a GAP FILL. And a 8pt+ Gap have the Lower Probability as well. Don't Hope for the "GAP FILL" although it can happen, the probability is 36.8%. Do I want to trade a 36.8% probability, HELL NO.....
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I meant, Same day Gap fill.
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Nice stat. 2075-81 looks like its on deck, but hard to do anything with conviction in to the Wed FOMC meeting.
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ucsgears PRO Justiceisfalse
I do have a hybrid options position on SPY. Few Calls and PCS to compensate the time decay. Got them on few confirming low risk signals, That I use mostly.
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ucsgears PRO Justiceisfalse
FOMC, is just a scare crow tactic, pulled in by most of the so called GURUs out there, Causing the hype and panic for 15-30 mins after the meeting minutes. If one has learned trading from such a GURU, then I don't Blame them. I trade Stats and Probability. After the hype and panic, the market resume its thing. more than 90% of the time, FEDs don't set panic in the market, if they do, that's just one time event, with the lowest probability. A well risk managed position is the way to go about this.
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