Classic Structure

We are trying to get back to blogging mode.  But summer and lots of stuff keeping us away.  But the last 3 sessions are classic structure!

The liquidation move from a couple of days ago, sure enough again,  did provide a nice structural entry to go long.

Same thing today.  Morning liquidation (too fast) that just so HAPPENED to print a minor low of the previous day an amazing entry.

So too, was the coil just above VWAP with the TICK MA solidly above zero (nothing the liquidation move lower and minor low).

Liquidation Day

Fed Pounce To All Time Highs

Fed day panic move to all time highs.  A minor high that will fail, or will they keep it grinding?

Our last post noted how poor the selling was, and sure enough it's just been a summer grind higher since!

After two days of "selling" , morning balance broke out lower during the doldrums for a decent grind lower. 

But double distribution moves out of morning balance like this are not high confidence and right on cue buyers stepped in the last half hour of the session.

All-in-all, the buyers have their nice chance to step up in tomorrow's session, as selling is all low confidence.

But oil is on the rise and negative news is flowing, so we will respect it if the sellers can pull it off again tomorrow.

Low Volatility

VIX hovering near 52 weeks lows.

Surprised to see the ES pull off a 10 point range today!