Fed Day Balance

Not a lot of opportunity to trade until this building range resolves one way or another.

But the minor highs and lows still do still pack a punch intra-day.

Coiling

We, more or less, now have a 12 day basing/coiling action on our hands.

With tomorrow pre-fed announcement day, it's high odds to be yet another inside day.

With that, let's take a look:

Check-mark Friday

No continuation just yet.

But another excellent example of a look down and fail.  And how trending the futures are these days intra-day.  Especially on a Friday when volume leaves and the buyers seize control after after a fake out look-down and short overnight inventory.

We note the low volume today and extreme low sediment readings didn't support such a strongly trending check-mark day.   And small caps stunk up the joint.

Bull Market Day

Downside was bought in the overnight and the cash prints a balanced-grinder-higher.

It all smells of an upside attempt tomorrow.

Time, price, volume:  Read these structural metrics fluently and you just might find yourself being one hell of a ferocious market participant.

Give It Another Shot

Great advice from the FAA...  You can do it Kang-kook.  We know that you are just a bit more practice away from being able to set her down on a clear day without any hassles.

Today was a day where watching the profile didn't allow those fantasy gremlins to run a way with your mind.  Sort of a B formation, double distribution hybrid that signaled not to get carried away with expecting a lot of downside.  And it also indicated to not get hugely excited about upside either, until a clear transitional signal appeared.

Winning Streak!

With the markets in a coma, we turn to CNBC to figure out what's going on.

With the last 4 days being primarly overlapping balance with only the smallest of minor looks to new highs, Mr. Jee Yeon Park does not have much to work with here.  Yet, Jee makes it sound all gee-wiz exciting.   

Now onto other news...

It seems as though Boeing is at fault!  The company is being sued because the plane it made was flown into the ground by pilots who forgot to check how fast they were going (details, details!).  Seems completely logical to me.  Stupid airplane.  

I wonder if Boeing can counter-sue, claiming that the passengers owe them money for manufacturing a airplane that hung together and didn't erupt in a immediate fireball, despite being flown into a seawall.  After-all, the owners manual clearly stated that stalling the airplane 400 feet above the ground is a no-no.  

Maybe the sea wall should be sued?  Shouldn't have someone thought of putting in rubber rocks? 

Nothing happened in the markets today, but the ES offered up a few decent trade ideas. 

Snoozer

We want to make sure that some of America's best and brightest opinions get airtime.  I think that these three people are SPOT ON!

5 day low in volume and today did nothing but balance.

A true Monday summer snoozer.