Saturday, April 26, 2014

Red Friday

We thought it high odds up, but the market went down today. That's trading. I'm not surprised whatsoever that we tanked, given yesterday's underlying weakness underneath the hood and geopolitical negativity circulating.

On the intraday timeframe, trading today was spectacular.  Price action totally symmetrical and VWAP offering up yet another great trade.  But the trade of the day was the 11:30 minor low with excess tail.  S1 and IB extension references there too boot.

I think that there is a very good chance that this market prints more selling come Monday.  But I do not declare any actionable edge at this point.

We go through the analysis on the slides.













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