TakeProfitTrader

01:48

TakeProfitTrader

Good morning traders... Market is already open when writing this so I will keep it short. I look for the market to get tangled up here between 4100 and 4200. If we fall below the 4100 area with any kind of momentum, the first volume below that is significant is not until about 4000.

02:56

TakeProfitTrader

Good morning traders... FED raised rates by 75 basis points yesterday, and the market went up! Powell also talked about how growth will have to slow (and the market went up). This is one of the many reasons not to trade news!! I believe the market is trying to reach for 4100 and we have quite a bit of resistance there. Personally, I would love to short it up...

03:26

TakeProfitTrader

Good morning traders... FOMC minutes are today at 2pm eastern, so again, I do not expect a lot of directional movement. We had more directional movement than I expected yesterday, but we ended up taking it all back at the close, due to earnings reports from some big companies. It pretty much leaves us in the exact same place we were at the open yesterday, and I...

02:23

TakeProfitTrader

Good morning traders, Tight range overnight leaves us in pretty much the same spot that we closed yesterday. I wouldn't expect a lot between now and the FED minutes tomorrow. I am going to play this market from the outside in.

03:39

TakeProfitTrader

Good morning traders... I am buying this creep higher as I think the market is headed for 4100 eventually. I would expect pullbacks to be bought, all the way down the 3900. Below 3900, I think the market is in trouble and will likely re-visit the lows.

03:59

TakeProfitTrader

Good morning Traders... I think it will be an interesting day today as the market is now above, and holding (temporarily) above 3900-3910 area. We have basically 100 points until the next area above us, so long as 3900 can hold below us. If it does not, I think we go back down and test the lows again! I am going to say long here, but it's with a very short...

04:38

TakeProfitTrader

Good morning traders... Running back into 3910 area, as expected once we were unable to hold below 3775. 3910 is a key area today, in my opinion. I think if we can take 3910 (THE KEY IS TO HOLD ABOVE IT), I think it sets us up for a rally into 4000 area. I would remind you that lately this market has had several chances to regain these higher prices, and it...

03:15

TakeProfitTrader

Good morning traders, A bit of a push on news right after 830 this morning, but nothing has changed. Still a very murky picture. Volume all over the place, but concentrated heavily on the bottom. I expected to see a bigger "flush" yesterday, but we just didn't quite get it. I wouldn't be surprised if we get a similar kind of move today, to the upside. I'm...

02:14

TakeProfitTrader

Good morning traders, We continue to come down to the bottom of the volume here, and we are now below 3775. I'm looking for a flush lower before we see any kind of sustained buying, but there is always the risk of selling the lows and getting stuck. I will look to sell a rally, and then cover on a flushout lower and look to get long again. It's a bit risky...

03:10

TakeProfitTrader

CPI numbers were red hot this morning, and the market is down big. It brings us right to the level 3775 that the market needs to hold. I think it could be a wide swinging outside day today, with a potential large red day if we can move below, and hold below 3775. If we can't hold below 3775, I would expect the shorts to start to get squeezed out.

02:10

TakeProfitTrader

Good morning Traders! Looks like another fill in kind of day. I wouldn't expect trend today, I think this is more profile repair and consolidation. I would not chase trends on a day like this.

02:03

TakeProfitTrader

Good morning Traders, a bit of a sleepy trade overnight, after testing 3900 area yesterday. I would expect us to continue to test those higher prices off of the open, and if we can squeeze through 3912ish, I think we make a run at 3975. However, should we get some selling pressure off the open, I think it's more likely we bang into the volume below us and start...

02:08

TakeProfitTrader

Good morning traders! Sleepy overnight session gets me thinking that we are going to try and push higher towards 3900. The overall profile since weve fallen out of the big balance is a complete mess, and the market will likely clean up some of that by auctioning higher and churning between the high volume areas. I"m looking for 3900 area today.

02:20

TakeProfitTrader

Late to the party today. One thing to note is the FOMC minutes today at 2PM. I think it will be quiet in front of that. I look for more balance and to fade extreme moves in front of the 2 oclock hour.

03:27

TakeProfitTrader

Good morning traders... After the long weekend, the market is looking forward to a busy week. We have the FED on Wednesday, and the market has been volatile overnight. I'm looking for the market to chop in here, and eventually test either 3725 or 3850. I don't want to get involved at this 3775 area as it is very thick in here (and unpredictable).

01:59

TakeProfitTrader

Good morning traders! We are going to open today right inside of the balance from yesterday, which gives an edge to the "range" type of trade. I am focusing on key levels at 3800 and 3750 today to do my business. I will be fading the extremes.

03:56

TakeProfitTrader

Good morning traders, Last trading day of the month today usually means we get some window dressing, but I don't think we will get any today. The market has tested lower again overnight, and there is a weak low on the profile. Long story short, I'm still looking for opportunities on the short side.

01:58

TakeProfitTrader

Good morning traders, We had more selling yesterday than I expected. It leaves us with a pretty weak low from yesterday, even though the overnight session showed us balance. I would expect to see at least a head fake lower this morning when the market opens for the regular session. If we are able to take back yesterdays low, we could see the market start to...