NQ - 13 / The Stop Run - Prior Top 5/5 Prior to Reversal
Anticipate an Overthrow, it is the pattern that completes the Highs for NQ.
It throws Price Positions into Dis-Array and causes the Panic Close prior to
Price moving significantly lower.
"Tops" are always a Process, one that, by design will attempt to remove as
many Profitable Setups as possible.
The appearance of "Invalidating" the Count and Structure is common.
VX After Hours will be extreme for Globex.
Ladder Micros in SIZE into each and every Trade, it is more difficult for the
ALGOs to pace Market Micro Orders, as they are absent from the Book until
execution. Using Full contracts is generally a bad Idea during Globex at this time.
Rule #2: Nothing Dumb - ie. Getting out over one's Skis... ends badly. This axiom
Compounds, Rule #1 - Manage Drawdowns.
_________________________________________________________________
AAPL reports after the NYSE Close today.
Count 13 within the Structure will provide a challenge
for Traders who are beginning to position into the SELL.
Wall Street will, IMHO, make a large attempt to wreck
all stops today and potentially again Monday IF Friday
is contained to the RANGE.
The Confirmation will be the 34SMA failing.
SMAs are all pointing UP and yet Price Structure continues
to WEAKEN.
A clear Divergence... one of many.
This is the Game... we've seen it too many times before.
Patience... all that is required, let them come to you.
Do not permit them to drag you along for a potential
insidious Run of your Positions.
The ES Demonstrated the End of the Larger Count by
completing its High with a Stop Run prior to reversing.
A move in the VX Complex confirmed the reversal. The
VIX should now begin to move toward 19.75.
The YM performed the same reversal.
NQ's 13 provides the High and Reversal. For Traders
the Challenge will be the attempted Stop Run and
running the Book to clear it.
In the past 2 days, there has been a large EOD Sell.
Sellers have been present, with volumes and Indicators
showing clear signs of weakness while Price has struggled to hold.
Carefully observe the High to High Extension Levels for NQ,
they present an opportunity for PRICE to Run Stops prior to a
Reversal on a Friday.
Friday's of late have not been Reversal Days. We could see a
chop along the top into the drop into early next week or APPLE
wrecks the Buy-Side quickly.
We will see, patience and nothing dumb remains the Rules of the
Road as we move into the most important EPS Number of the
Season.
I believe it is important to Observe - past Stop Runs did not hold
and quickly reversed.
They usually begin @ 4:00 PM EST - 4:02 PM EST.
It throws Price Positions into Dis-Array and causes the Panic Close prior to
Price moving significantly lower.
"Tops" are always a Process, one that, by design will attempt to remove as
many Profitable Setups as possible.
The appearance of "Invalidating" the Count and Structure is common.
VX After Hours will be extreme for Globex.
Ladder Micros in SIZE into each and every Trade, it is more difficult for the
ALGOs to pace Market Micro Orders, as they are absent from the Book until
execution. Using Full contracts is generally a bad Idea during Globex at this time.
Rule #2: Nothing Dumb - ie. Getting out over one's Skis... ends badly. This axiom
Compounds, Rule #1 - Manage Drawdowns.
_________________________________________________________________
AAPL reports after the NYSE Close today.
Count 13 within the Structure will provide a challenge
for Traders who are beginning to position into the SELL.
Wall Street will, IMHO, make a large attempt to wreck
all stops today and potentially again Monday IF Friday
is contained to the RANGE.
The Confirmation will be the 34SMA failing.
SMAs are all pointing UP and yet Price Structure continues
to WEAKEN.
A clear Divergence... one of many.
This is the Game... we've seen it too many times before.
Patience... all that is required, let them come to you.
Do not permit them to drag you along for a potential
insidious Run of your Positions.
The ES Demonstrated the End of the Larger Count by
completing its High with a Stop Run prior to reversing.
A move in the VX Complex confirmed the reversal. The
VIX should now begin to move toward 19.75.
The YM performed the same reversal.
NQ's 13 provides the High and Reversal. For Traders
the Challenge will be the attempted Stop Run and
running the Book to clear it.
In the past 2 days, there has been a large EOD Sell.
Sellers have been present, with volumes and Indicators
showing clear signs of weakness while Price has struggled to hold.
Carefully observe the High to High Extension Levels for NQ,
they present an opportunity for PRICE to Run Stops prior to a
Reversal on a Friday.
Friday's of late have not been Reversal Days. We could see a
chop along the top into the drop into early next week or APPLE
wrecks the Buy-Side quickly.
We will see, patience and nothing dumb remains the Rules of the
Road as we move into the most important EPS Number of the
Season.
I believe it is important to Observe - past Stop Runs did not hold
and quickly reversed.
They usually begin @ 4:00 PM EST - 4:02 PM EST.