Was wrong about the bounce on Friday... Well not completely wrong, but I didn't capitalize on the uptrend early in the day. Capped off a poor trading week for me as I was trying to will the market higher. New week, and expect it to be noisy. 2993-2960 seems to be the area of interest this week. I think the line in the sand for the bears is the high from...
Hey traders, I got shaken out of my long briefly yesterday, only to re-enter (at a worse price). The position is in the green and will continue to add to it because I want to get paid if the hypothesis is correct. Volume is good overnight and a ledge at the top, indicating we are not done going higher yet. Look forward to seeing you guys in class at 930.
Hey Traders, Markets fell a bit in the afternoon yesterday and provided a nice long entry back towards the previous prices. The market has rolled over from there. Looking for a flush out of the weak buyers before getting long again!
Same old same old. Volume is low overnight indicating that the participation will be low today in the regular session. I will continue to trade this market on the long side, but outside to in today since it will likely be a low volume, back and forth kind of day.
Sounding like a broken record but we continue to accept value higher. That means I will continue to be long and continue to follow the value. 2992 is the line in the sand below where I think we pull back into the next distribution below, as shown on the video.
Now the pullback has begun as we are starting to accept some prices lower and the buyers were flushed out from the latest balance area. I'm looking for a retest of 78 above, and below 62-60 area becomes the line in the sand for buyers. If we fall though, I would expect us to drop pretty quickly towards the 40's. Of course, this is barring any trade report...
Hey guys, Market is still accepting prices higher, so what's that mean? I may sound like a broken record, but I will continue to be long until we start accepting prices lower. If we break lower, 80 area will become key on a retest. In the meantime, I'm looking at 80 and 72 and 60 as the key areas below
NFP number created some downward movement even though it was a good number. We reached 3000 and may have some temporary resistance because everyone is looking at that number, but I will continue to be long until the market starts accepting prices lower. Are we stretched here? Sure Is it possible that we have a down day? Sure All of this is speculation though...
Likely going to be dead today with an early close. 3000 is right above us and will likely be stiff resistance higher. I don't expect us to get through until Friday when the market resumes its normal activity.
Nothing really changing here. You see yesterday why we are affraid of chasing the market higher. We got a small pullback and everyone that bought the gap got burned. I'm staying long here, though I think with the low volume overnight, we are looking at a sleepy, holiday week, summer day.
Market gapped up on G20 news and we finally got to (and past) the 2950 area we were talking about from last week. This is why patience is important because the market doesn't care about your timeframe, but it was easy to get out of the long last week and if you did, you would have missed the move higher. That said, I only caught a portion of it because I was not...
Got some relief and found buyers before we could hold below 2920. Next stop, IMO, is 2950. Weak high overnight shows that we are most likely to continue higher.
2920 continues to be a key number. I got shaken out of a trade yesterday on the move below 2920, just to see it bounce back overnight. I still see 2950 in my sights for the longs.
Some great clarity from only looking at one chart. Some key areas above at 50 and below at 20. Stay out of the noise.
Status quo for this market, continue to move higher and then balance. This is telling us that we are unlikely finished moving higher just yet. I would'nt expect to see a reversal on this low volume from the overnight session.
Opening in Range, in value, on a Friday, its Quad Witching, looking for an open auction, we have a poor low OVN, that could get retested, the delta is pretty short here before the Open, watch for clues in the order flow on the Open for signs of direction. Its been a good week, dont give anything back, we could definitely have a balancing day here. GL
Markets continue to trend up and we had a nice orderly auction yesterday, falling into a previous balance before bouncing. I would highly advise against going short here, today is options expiration and while it may work to be short, it's a low probability play.