Market still clearly accepting prices higher.
Profile becoming very box-y meaning that the market is indifferent at any price between the highs and lows of value.
The line in the sand below is still 70, in my opinion, and you'd wouldn't be wrong staying long until that is broken.
Remember, the market is accepting higher and when that happens, the more likely...
Stuck in the middle of this upper balance.
It's a good thing and a bad thing for the longs.
It's good because we aren't rejecting this upper balance, we are still very much in the middle of the balance.
The bad news here is that we can still pull back to the lower end of the balance so if you're long, you may have to sit through some heat.
Pretty good movement overnight.
Looks a bit like a failed high from Friday and a weak low in the overnight session.
Would be looking for low 70's high 60's as the weak low will likely be taken.
I wouldn't expect too much today, as Europe and Asia leave this market, I expect it to be very slow in the U.S. Session.
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!
Good morning from Colombia!
We are at ATH again, and we continue to accept higher.
Listen to that again, we continue to accept higher prices.
The market is NOT showing any signs at this point, so you have to be long, IMO.
The market is stretched overnight on low volume, so I'll wait for low 70's.
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....
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....
Clearly the market shrugged off Mondays closing selloff and is right back up at the weak high that monday left behind.
I would expect the market to take out this weak high and try and continue higher.
I'm looking at 3002 or so for a long opportunity!
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.
Not much has changed. Low volume overnight and we are back at the 3000 level.
Will we return to all time highs? Probably. However, it doesn't have to be today, this week, or this month.
Don't chase the market.
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.