Op Di Si -- Up Wi Go

I was planning on stopping the fake Chinese names -- but I can't.

I'm addicted to it.

We thought a red bar would print today, but the look down minor low in the overnight session and fail, just got the buyers excited for a Friday creeper-grinder up.  And they closed it on highs for a new all time high.  But not by much.

Like we said, if the red bar does not materialize, then we go with the flow.

And this brings me to think of how easy it is to stay on the right side of grinder ups.  You don't out think them, especially on a day like today that "should have gone down".  Any sign of not going down, then watch out.   If minor lows print overnight, IB lows are printing higher lows, continuation consolidations break higher -- then there is no screwing around whatsoever.  It's high high odds for the trend to continue.

The TICK is showing some nice edge, yet again today too.

 

Fuk Tu Hi -- Bitch!

As expected we got a push higher.  The stops above the all time highs were taken out.

Then we got the textbook reversal setup at mechanical R2.

A close near lows with the look above and failure in place is something the sellers can run with, if they so choose.

High odds I think that they will.

Ri Ed Ba?

 

Another Windup Day

We were spot on with structure yesterday, as the buyers hit the gas again.  Or should we say the government did?

Nice balanced day structure in which to lean into (Lee In Tu) for day trades. Other than that, another meaningless balanced day.

Minor excess tail above 2 day range signature structural cue

High/Lo data held firm and usually signals continuation.

Volume perked up a tad today.

Too Hi Es

Wi Cum Bak!

Our emotional capitulation last night actually did give us a red bar and showcases how important it is to really feel your emotions. Because most everyone else is feeling the same thing.

But the red bar was low volume and meaningless.

Structure down was weak.

Shutting Down

Sometimes the crew here at the scott-trader blog have to make some tough calls.   We hunker in the trenches and fight on the front lines daily, after all.

And after endlessly making structural insights and analysis of the stock indexes for the last couple of weeks, it is clear that we should have just sat on a beach.  Wasted time.

The world does not need our blog, or our analysis, as the futures markets are utterly in la la land.  My emotions are finally PEAKED.
So, we are gone.  Good bye, ya'all.

Think that I'll start watching the news again.  They can report some really meaningful facts.   Bang-up organization.  And the information was CONFIRMED by the NSA.

Here is the transcript:
KTVU:  NSA, can you confirm "Sum Ting Wong, Wi Tu Lo, Ho Lee Fuk, Bang Ding Ow" are the pilots on Asiana flight 214?

NSA:  I have no clue and am just a summer intern.

KTVU: Come on, this is reliable information and we want to run the story.

NSA:  I have no clue and am just a summer intern.

KTVU: This is reliable information, can you please just confirm it!

NSA:  Those names are not in our database and I cannot confirm a thing.  I googled the names but nothing comes up but nonsense. Have you googled the names?  Ho Lee Fuk sounds a bit strange to me, are you guys sure that this is reliable information?

KTVU:  Thank you for your confirmation.

Friday Balance

Snoozer

So we expect a bunch of fanfare in the cash today, and we get a snoozer-balance with a late day double distribution breakout that didn't propel over the all time highs.

All of the action continues to be in the overnight session.

Will it fail or go?

Tune in tomorrow.