Rounded Bottom and No Sellers

We got the push down like we anticipated.  But that's all she wrote and seller through in the towel for the rest of the session.

Looks like buyers are clear to gun for a test of the daily highs again.

Rounded bottom balance generated a 11:00 push higher to range highs.

Hey, we are good.

Not a shocker that the day was up after yesterday's mechanical selling BS.

20 point range today.

Yet, it was a zombie up day, which portends to a high possibility of an inventory adjustment lower.

All they did was fill yesterday's gap.

Momentum and TICK deplorable for such a trend day.

Back and fill, or look above?

Probably a suck lower is our best guess.

Big - Red - Or Is It?

VIX puking to low 12 last week always a clue.

So we get a red bar today finally.

The structure summation:

-- Confident morning move lower without too much rush, so odds are for continuation.

--8:00 reversal that falls short of VWAP with a tail on the 5 min.  Sediment negative extreme -2000.

-- And this move lower is a breakout from balance on the daily.  1st day down type of stuff with increased volume.  Short it.

--  But selling morphs into balance-grind lower.

-- Which sets off a 12:00, last hour bounce.

Sellers better watch out for tomorrow is our best take.

If they double down, then we don't fight it.

ATR nearing levels for us to be on the watchout for a down move.  Pre-holiday Friday tomorrow, and not expecting much!

But you never know!

What we highlight on the 5 minute were two near perfect King VWAP trades.

Down Volatility

Zombies

Hey, what do you know?  We were right.

Look above today.

But, oh my, it just sucked.

On the 5 minute, I've never seen suck a successful resolution from 1st hour and a half balance with the TICK ma so firmly below zero.

Only 6 +600 TICK readings all day.

No +800 readings.

On the heels of a breakout to all time highs?

Clearly a Zombie break out day.

Just something to note and we are well aware that the zombies could keep taking it higher for as long as they want to.

Balanced Friday

Lazy Friday session just balanced.

If anything, this makes a breakout higher even more high odds come Monday.

Party on, folks.

Trend Day!

And just like that: A ball-busting trend day to the top of the range.

Nothing fancy!

The daily is set for a look above!

King VWAP offered the trade of the day entry once again today.

Gap And Crap

Gap up beaten down for a grind lower.

But I'm still not impressed and have to conclude that buyers are lurking here.

Going to take some event to get this thing lower.

Bias long for tomorrow.

Gap Fill and Smack!

On cue the gap fill occurred today, then balanced and broke out higher -- the trade of the day!

Buyers in charge here, folks.  Probably new highs test on tap here as today's action was a bullish as it gets.

Look around the horn too.

Today's ES gap fill and firm buy response utterly bullish.  No out thinking it.

Crappy Selling

No look above today but also no big crater.  Just slow, choppy selling in the context of being mostly inside range.

Not even close to gap fill.

Buyers still in charge.

But we are on outlook for possible gap fill attempt.  So visual.

Trade of the day today was to buy the minor low of Friday's session. But you have to be very, very patient!  And then get out quick as the session was firmly trending lower.

Jobs Report Gap Higher

Big jobs report gap higher and then balance.

All time highs are in the wheelhouse there to test.

I don't understand how I can get bearish here.

But big gap below will be alluring for sellers to test.

Morning balance double distribution breakout to the downside.

The target was S2 and then responsive buyers stepped in on cue just before 12:00.  Trade of the day as the transitional structure took hold.

Structure like today is low confidence, so we expect buyers to come in at some point tomorrow.

It's just the way this bull market works!

Trend day

True trend day down.   Let's face it, early May can feature some real selling!

And a high confidence structure.

We expect responsive buyers to have thier way in  tomorrow's session, in one way or another.

This market does not want to die.

May Day

After morning balance, a push higher into the close.

As we expected.