True Trend Day

True trend days down are relatively rare (especially after last year!), so let's look at the clues that helped us to identify unfolding structure and to stay on the right side of trade.

1) 1st trading day of the month can be trendy.

2) We were cognizant of washing machine 5 day balance.  A Break of this range could have legs -- up or down.

3) Multi-day IB volume breakout higher. And noting volume on track to finish for a 6 month high print.

4) Goldilocks price action on the 5 minute.  Not too fast, not too slow.  Retrace action higher fast line MA reversal and with fresh price breakdowns to lower levels.

5) Momentum: TICK MA never did breach zero line with pressure staying solidly lower all day.  A/D and up/down volume firmly trending -- Firmly trending sediment on a non-gap day always a strong tell.

Tomorrow:
1) High odds balance.

2)  The look down below today's trend day range and failure trades can be splendid.

3) A push higher that fails.

4) We will not be shocked to see buyers coming in, causing a short squeeze for a big green bar.  But I think this is lowest odds to happen.

5) I'm sure that the market will pick some other scenario!