Monday 10-19
Well, with vix now on it's way to zero once again, yet another balance/grind day. It's going to keep grinding until it doesn't.
Just a perfect balance day from R1 to S!. Trade of the day sell the minor high, and buy the 11:00 range low zone.
10-20 Tuesday
What do you know? 1st hour and a half minor high above previous day's range and then a grind down to range lows and a 11;00 reversal. Just like yesterday!
Inventory feeling a bit too long now.
10-21
Range: 22
Well, we were correct that inventory was too long. Morning balance gave way to a late morning dump from highs.
The fade trade from highs was a good one -- note extremely obvious --, featuring a host of divergences. Namely, the Russell was near it's lows with the ES near highs. TICK, big diverge.
Note this high confidence structure, Scott.
10-22
Range: 34
Well, it was clear from the get go that buyers were in control as price broke out of multiple days of balance.
Vix still sank during a 30 point range. Something to note.
Arbitrary 10:00 high with a pull-back to VWAP. Trade of the day. Launch back to highs for big points.
The grind is higher, folks. Today's move probably seals the deal for high-odds daily range high test(s).
10-23 Friday
Range:
Hungry buyers gapped up price over 10 points. After a low confidence morning pullback -- quite shy of gap fill mind you -- the accumulation race was on once again. A pattern with this market is that a failed gap fill = a fresh breakout of the morning highs.
This market is firmly in it's grind up cycle of which, only all time daily highs is a reference now.
We all know that a big red bar from such a lofty grind is a huge risk. But we just have to respect price action. And then hopefully be able to shift gears and go with on a big down day.
