Liquidation Setup

Breakout or Swing Down?

The morning reversal was a little bit later than normal today, nooner LOD, but structure was much the same. Cup-and-handle coil and go type of action to bust through the VWAP to near range HOD.

Did I mention that it was on neutral sediment? The same move plays day after day.

They need to bust it up hard at these levels, and show some evidence of increased business at higher prices, or else Santa's sliegh might hit a snowbank.

Not much new today: A creeper grind up with neutral to negative sediment. Just your typical bull market grind!

The multiple day balance now at range highs is a not so obvious 1st-class-ticket for the bulls to break this thing out.

Note to self: I see (and feel) that there is no chance for a selloff here.

But I'm either in tune with a crack up market, or I should be worried.

Sorry Santa.

Exhaustion Gap

Well, my short call was a tad early, as the overnight session took out the range highs and the regular session tanked in the afternoon.

Nothing particularly bearish about today and the action was probably just your garden variety gap fill!

I'm now on watch to figure out if this was just some longs liquidating or if it was real, newly initiating, sellers.

Interesting Post!

Overnight Short

Bullish Grind Friday