NQ1!, Neutral Day, Directional Move is Anticipated

A bullish start of the day with all the signs for upside continuation. Negative divergence and lack of momentum were the only warnings for the long positions. The small balance on top of the broken resistance and its breakdown provided the hint that the buy side failed for now and offered a short opportunity. The responsive buyers showed up at a minor support and pushed back. Overall, both long and short opportunities were available.

The market keeps a neutral bias. Continue to watch the balance resolution. Buyers remain in control above today's low. A decisive break of the current balance in either direction may lead to a trending move. The trapped side, either buyers or sellers , will be flipping their position and participate in that move.

8/27/2019