Grinder Day Action

Today a classic grinder.

Insidious balanced action intraday that also featured a semi-rare 12:00 sell program, taking price to range lows.  What, sellers?

But don't kid yourself, it was a bullish day.  Late day selling is typically positive and this lazy, grinder action is signature buyers-in-control type of action.

But topping potential still lurks, so we stay patient, fluid and open to whatever comes up.

That's our job.

Another Bounce

Intra-day.  Here are the perfect entries of the day. 

Failure Day

We were not enamored with Friday's low volume grinder higher but we also respected the patterned instincts of the masses to follow through higher.  Sure enough, the visual high-odds pattern played out with a push higher -- and then a failure.

In our 1st slide today we feature the bonds and their downside breakout.  Additionally, they decoupled from the indexes today with a trend down day, despite the indexes finishing near lows.  I don't recall seeing this pattern in quite awhile.

If this bond trend continues, and rates finally ratchet higher, this market is toast.  It's going to a plunge back into reality.

Intra-day screen shots, showcasing the "perfect" entries!   

Pre-Holiday

If it were not for the ultra-low volume today, I'd be gushing forth utterances of nirvana.

The Expected Response

If the sellers were to continue it lower, the initial balance settlement above the overnight highs was the death knell signal to their efforts. The expected response was for the buyers to jam it higher after the prior day of selling and then the overnight session selling got the market too short.

Down Day

Market died with excess above today.  Will it get interesting?

"Strange" Action Today

Eagerly, I could not wait to pen this blog post.  The excitement and euphoria from top calling really has my spirit running wild and free...  Juices flowing!

It's not easy being this good: To perfectly call a top in a market that is, well,  GOING UP EVERY STINKING DAY.  No, it's not easy to be in the top 2% of all trading humanity.

For some very odd reason, the market didn't in fact go down today. Huh?  WTF?

It shocked and awed me with just balanced inside range, knocking out the range extreme stops on both sides of the previous day.

I know that you are all thinking this is typical grinder continuation action,  I admit that this is the most relevant take.

But it's not.

The TOP is in!

Tomorrow will be my day of GLORY!

Hell or high water I'm holding onto my bias until the day I die.

Or this market dies, whichever comes first!

Having said that, the intraday Laggards today had a bit of a problem to deal with.  They chased to a quick death.  Oh, it's not easy being a Laggard. But we love the Laggards because without them, the Innovators could not be so amazingly right!

Calling A Top -- Finally

Today's humbly-crappy-grinder-higher rotated to lows starting at 9:00.  

This market is way to stinking long and needs a pullback.  And today's action smelled of tiredness big time.

So we will walk the freaking-plank here and make a call that it's high odds SOME SORT of correction happens tomorrow.

But, of course, I'm wrong.  But I'm happy at my patience.  It's not easy finally submiting to the THE CALL of calling the top.

The top is in.

It feels good to finally say it.

  

Friday Up

Tight balance with, shocker, a programmed 11:00 double distribution breakout to rip out some new highs.

Today we are going to throw in some charts of silver, gold and agriculture, since these three groups are so hated.  And with the market going up like it is, these sectors could be where the money flows when the indexes finally puke.

The Red Color Means The Market Was Down, Well Sort Of

Our take that the wishy-washy action yesterday was a shot across the bow potentially, came to pass with a little afternoon selling today.  Just an inside day, mind you, and no technical damage whatsoever, but we note the change in structure.

Yesterday had no program TICK on the way up and strong program TICK on the push down.  Today the same pattern printed.

So, even though the market is holding it's own price-wise, there are underlying clues that institutions are selling while the little guys are buying. (Maybe, because I really don't know.)

Still, we expect it to grind higher or balanced again tomorrow! That is until "Bombs Away" plays at a movie theater near you.

The market was up today.

The market was up today!  Yes, you heard that right!