That said, the new theme is based upon the eagle being one fine top predator. And that's what we want running through our minds around here. When the storms come in, eagles love them while others hide. They can lock their winds and soar! And eagles can see their prey at a long distance, something we fancy as a good trading skill to have.
<< Market >> 10+ point gap down nothing but a chance for weak shorts to feel instant regret, as a trend move spawned from the open and powered higher.
Yesterday's 12 point range spawned into a 24.75 point range today. Power, base. Power, base.
1st trade of the day that fit our criteria perfectly was the half hour long base near highs just after the close of initial balance. TICK firmly entrenched above zero with no negative readings to speak of. This pattern, time and time again, sets the stage for balance to resolve itself with a push higher.
2nd trade of the day was buying the minor pullback just after 9:00. Again, no TICK to even -500, MA above zero, and the pattern repeats.
<< Odds >> High odds scenario of price exploring to at least all time highs. Q's already there We note small cap weakness as a potential flag.
The market is very extended, due for more consolidation, or maybe even a pullback of some sorts. With this auction really aging now, we will be on the lookout for intra-day afternoon failures. It feels like that there should be more than a few weak hands longs in this market.
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