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.
A lot of movement overnight, but it was all based on the china news. After all the smoke cleared, we are right back in the place we were to close yesterday. I would expect the market to go back and forth between 2900 and 2921. Don't get caught chasing the market. If one side is dominating the action, try to get back on pullbacks and not when teh market "LOOKS...
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...
I missed my entry last night by 1 tick. Market clearly rejected the 2960 area. I would stay on the short side, esepcially if we get a bounce towards 2035 on the open. Below I'd be looking for 2895 as an area of interest.
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...
After two strong down days in a row, I think the market is poised to take a breather. I am looking at the areas between 2915 and 2880 as the areas that the market will pinball in between.
In this video I explain a bit about the importance of where value is building. It's the best way to be objective about the market and remove opinions on what you think the market will do. Let the market dictate where it finds value and follow the value. I will be making some changes to the members area shortly to simplify some of these concepts for you.
Detail on why I put my stop where I did and my thought process.
After the news of impeachment yesterday, the market took a nice 50 point dive. It ran my trades over, and I took a loss yesterday. I would expect some continued weakness on the open, but I would expect the market to be bought later in the day, especially around 2940 area.
Looking to play the long side on a pullback to yesterdays high volume area. Will add some more lower. Long is wrong around 2980. Targets above are 3020.
Bottom end of acceptance, if the market pushes through, I would expect low 40's. Still want to be long though.
Trade ideas for the day published at European open