we are playing in a wide chop zone that has lots of room inside to make for decent size trades, so that is plan a) nest plan is a impulsive break up and out of the Red zone and get long any retrace for a run to posted targets. and the same with ideas from the bottom if not already short from red zone top
Today we have a up move inside a balancing range so will be look at 2 things, 1) a move below the top dashed line for a trade back to bottom dashed line and possibly to the Red zone bottom. If Red bottom break then a move through to 52. 2) is a move above the top of Red zone or a bounce of top dashed line for a run to 55. 3) A consolidation day looking for the...
NO need to point out the obvious so i won't. Currently we are in a large prior distribution of 3220 to 3265 and breaking this range could give a good clue to next location we head to. below 3220 I think a fast move to 3206 is probable. Maybe with no extra news we have a big range back and forth with some very spiky moves in that range. Will watch for break of...
With no doubt oil is bearish and first plan would be to be looking for ways to get short. There are some bounce points that could happen but with this news cycle going to take a bunch of good stuff to cause this bounce. We are getting very over sold so bounce can happen but will need a new narrative to change the over all direction.
over night action is bullish and with out news will think it moves higher so will be looking for the move down around the Red zone bottom for a long entry, A move below red bottom will take us down to one of the targets marked on the chart. Second plan is if we open with no drop will trade a retest of the red zone top or other decent pull backs after teh impulsive...
Oil is balancing as it gets ready to tell us what it plans next. not only is this info critical for the day trade ( that is fine just staying in the Red Zone for back and forth action) but also critical for the oil big picture trade also. I targeted oil down to 56 area before big decision time and now we went a little lower. On the chart are lower important big...
Well we hit my 56 area and things got interesting. I will be stalking a long term long side trade if it set sup, but now that we are under 56 for today the Red zone is very important and looks like lower we will go. So today will be leaning on any short set up, however a move back above 56 dot 25 I will look for day trad longs back into the high 56's to low 57's
We are now in a un tested zone and looking for direction as the over night area balances. A break of the Red zone could see some sharp fast moves down to repair some structural damage. and holding the Red zone bottom looks to me that we will have some large range back and forth till a new higher level is found.
Oil is back into that lower range i mentioned and now might go for the 46 buy zone i was targeting last week. Watch the red zone for directional clues and be ready to just trade the range. This is oil report day so little may happen till post the news
A over night long side balancing trade so first idea is to look for a drop to red zone bottom for a bounce. A break below Red bottom I will look for 3320 area where the market could just go choppy. Also third trade idea is a strong opening bounce for a higher move early that then chops. This should provide you with three game plans for trades after we see how it opens
most of the inventory from Friday close is short and this could cause a move back up into Friday rth session before a direction is found. Will watch red zone boundaries and any impulse around these red zone areas for a solid trade idea. There are lots of landing zones for down moves but the top side has some unresolved issues also. Todays action will be a strong...
Oil has moved back down to the pricing level it hang out at most of last week and would balance out well with a move to 57. This also give oil a bigger range to slosh around in between 60 and 57.50. Will watch red zone for breaks or rejections to give me my days directional leaning or days range to trade.
Full bull is still in full effect. Would be nice to have one more repeat day giving us dips to buy, but get the feeling a open hard pop is coming but will see. Will look for strong impulse to act from but be very aware of the small range chop. If we get the chop i will try and post later today what my bias of the chop resolution is.
The current action is bullish and to me looks like it wants higher, however what i think is not important. What is important is what happens. The best thing for me or plan A would be move down that I can gt long and move to the 59.5 target. Plan B would be a move down back into the prior distribution into the 58 area. Plan c is shorting tops and long bottoms of...
The lack of up side targets is not because that is how far I think it goes, It is due to my lack of further information. There are many ways to project a higher target but I will let action find teh level for me. I have 3295 as the over under line and below could see a strong down move into options X. but and this point if we keep with this weeks theme is we get...
Further consolidation range action, will play the buy and sell zone until this market breaks and finds a new trend
Just noticed I think i labeled yesterdays post wrong, oh well, as long as i get the values right. es is trading about .5 to 1 point higher than spx500. One more up move followed with accepting balance. bigger picture balance is 3298, so call it 3300. Watch Red zone for impulsive break and retest or trade the 11 point red zone range.
Everything about today in oil was said yesterday. so linking below. Oil has been very good as of late putting in a few days of balance and one day of break out, so keep an eye for red zone break or rejection!