Not much to say here. Market still doing it's thing. Still watching 85 and 70 below, and wouldn't be too excited about buying the breakout.
Very orderly here. I have said it before and I'll say it again, until this market pulls back, I would be looking for opportunities to get long. Don't try and pick the top... If you really want to take a short, make sure you have something above you to lean on. We have some nice structure below us that will tell us on the open whether we are going to fall back...
Yesterday gave a great opportunity after the news. THe market basically faked lower in the balance and ran into the volume below and found buyers. This is why it's dangerous to be pushing shorts when the market keeps accepting higher prices. Follow the acceptance.
Some good news out of china overnight send the market up with a little spike. We are ranging near the value high and wold expect this market to continue in this direction,but we may need to dip into value first. I would continue to be long, and although there will be some short opportunities, make sure you are not overstaying them!
Looks like a breakout yesterday from FOMC and we are back down at the top of value. If the market stays status quo, which is what I expect, I would expect us to tag the bottom of value from this area. Bottom of value is 3031 area. It's only 10 points away so not the most exciting trade in the world, but remember, we are in balance for the last 4 days....
Everything is looking higher. End of the month window dressing likely as funds will look to protect October gains. I'd be looking to buy 26
All time highs finally reached, which is what we expected. I didn't expect it to happen so quickly, but here we are. Very tough to find shorts in this kind of environment as there is nothing to lean on higher. Gun to the head, I'd have to be long even though the market has broken out on pretty low volume. Areas below that are significant are 3010-3005 area....
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We broke out of this area, albeit on low volume, but we are accepting prices up here for the time being. I would expect any kind of pullback to come back to the 3000 area and if this breakout is for real, I think the buyers will show back up at that point. If they don't, I would look for 85 again, and possibly lower as this would be a failed breakout. The low...
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Still short from yesterday. Low volume overnight, looking like a dead kind of day to end the week. I am still looking on the short side for the market to rollover. The key to knowing this trade is wrong is if we start accepting above 3000.
We are now hanging out at the top of balance. Gun to the head, I'd still want to be short. If I change my mind on the short, it's becuase the buyers will move the market abvoe this 3000 area and we will start to trade a lot of volume up there. Until then, if you are long from here you are buying the breakout from value high and that's a losing proposition,...
A nice trade overnight based on the footprints the market had built. I'm looking for yesterdays weak high to be taken out and then see if the sellers can push back at that point. If not we are probably looking at all time highs again, but I would be cautious as we have not really done anything other than go back to the high of the value from September 4- End...
Yesterday is a throw away day. We are still inside of fridays range, big targets being 3000 above and the area at 2952ish below. I think the line in the sand today is 2963, if we fall below that i think we run quickly to the area at 2952. I would expect VPOC from friday to act as some resitance above. If the market pushes through it, I would be looking for...
Market pushed back into the previous acceptance area, beginning at 2960's in the overnight session. I would be looking at longs on a pullback for a ride to 2980, 3000 as the extended target. The idea is wrong in the mid 2940's, IMO.
Market really struggled yesterday after initially pushing to the previous day's value high. However, on the morning ideas yesterday, I spoke of the 95 area and we did indeed get a nice bounce there yesterday, only for that bounce to fail at the end of the day. I see this market having trouble holding on to higher prices, and would expect to see some weakness...
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The market did a lot of what was expected yesterday, but we sunk a little further down than expected. This was news based, and can never be predicted. However, the market quickly shrugged off the news and returned right back to the scene of the crime and ended up heading towards the resistance area at 2917ish. Today I will watch the open intently to see if the...