The main focus is on setups and scan outcome, that will provide viable opportunities.
Market Structure: Duration bearish market (stocks move in tandem, occasional oversold rallies).
Primary Indicator: Green (bullish continuation and bearish reversals are favorable).
Secondary Indicator: Breadth thrust 12 Jan / Countermove attempt 18 Jan. Current MMFI = 64.56.
MR10: Focus is bullish continuation.
SPY: -22 None
QQQ: -2 bullish continuation + Mean
IWM: 0 bullish continuation + Mean
20 percent study: +22/-7.
Conclusion: Yesterday weakened acceleration in the downtrend followed with some upside momentum which also is represented in PM, possible bullish short term. Will run 9 million, combo scan and be selective. DT in case market indicate acceleration to the upside. Yesterday indecisive candle as break reference, observant first 30-45 min of open.
Market Structure: Duration bearish market (stocks move in tandem, occasional oversold rallies).
Primary Indicator: Green (bullish continuation and bearish reversals are favorable).
Secondary Indicator: Breadth thrust 12 Jan / Countermove attempt 18 Jan. Current MMFI = 64.56.
MR10: Focus is bullish continuation.
SPY: -22 None
QQQ: -2 bullish continuation + Mean
IWM: 0 bullish continuation + Mean
20 percent study: +22/-7.
Conclusion: Yesterday weakened acceleration in the downtrend followed with some upside momentum which also is represented in PM, possible bullish short term. Will run 9 million, combo scan and be selective. DT in case market indicate acceleration to the upside. Yesterday indecisive candle as break reference, observant first 30-45 min of open.
Comment:
Will be considerate at open since there is a hint of indecisiveness mixed with the bullish PM. Focus on HQ setups.
Comment:
Market had positive breadth in line with expectation, however slow upwards grind on low momentum. There are some setups viable, but will take none and closed DT. Not much movement / intraday range to capitalize on.
Comment:
Comment:
Update