ATR today was over 40 points. Over 2% declines across the board.
And the media is in a panic. Of course, I'm not watching it but I'm sure that they are!
Yet all the market is doing is balance. Yes, it is wild and crazy balance, but the daily is still technically not in any trouble whatsoever.
What bothered me today was that the sellers could not take out the range lows on the daily.
Like why?!?
Anyway we look for in tomorrow's session:
1) nod to push back up into the range, with trapped shorts -- The pattern that is currently in play.
2) nod to look below and fail -- then a push higher -- would not surprise whatsoever!
3) nod to a look higher and then a real puke as the range lows give way -- seen that movie! .
4) puke and go lower tomorrow -- no games. Just puke. Hum, now that's rare!
It's October and volume is up. And this is an incredible trading environment.
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