Week of 10-19 - 10-23

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.