Tuesday, February 3, 2015
Monday, February 2, 2015
Wednesday, January 28, 2015
Tuesday, January 27, 2015
Balanced Day
This market sure has been printing some very benign morning moves lower that have resulted in rather ferocious up moves. It happened again today but the push higher petered out at a minor high of yesterday's range lows, which gets my nod as the asymmetrical trade of the day.
Monday, January 26, 2015
Thursday, January 22, 2015
Going Up!
The morning look down could not even make it to 7 o'clock before an excess tail and reversal ensued.
It was clear inventory was still out of balance to the upside. And buy that break of the VWAP, and then buy for the breakout of morning range highs if not already long.
And the three-hour midsession base could not even test the VWAP and the tech MA was firmly above zero. All of the -600 tickets lower could not budge price below the supportive range. Lots of clues.
Today is one of the most spectacular examples of how a mid-session base breaks out, right at 11 o'clock, for a asymmetrical move higher break out of balance.
Great trading day!
Now that this market has not been rejected at the 2050 zone, we have to assume that the dog pile will continue. All-time highs is the major reference on the radar now.
A significant reversal here could have some teeth. But that is the low odds assessment at this point.
It was clear inventory was still out of balance to the upside. And buy that break of the VWAP, and then buy for the breakout of morning range highs if not already long.
And the three-hour midsession base could not even test the VWAP and the tech MA was firmly above zero. All of the -600 tickets lower could not budge price below the supportive range. Lots of clues.
Today is one of the most spectacular examples of how a mid-session base breaks out, right at 11 o'clock, for a asymmetrical move higher break out of balance.
Great trading day!
Now that this market has not been rejected at the 2050 zone, we have to assume that the dog pile will continue. All-time highs is the major reference on the radar now.
A significant reversal here could have some teeth. But that is the low odds assessment at this point.
Now let's look at the intraday and document the amazing structure as it unfolded:
Wednesday, January 21, 2015
Buyers
A rip snorting move higher first hour and a half gave away to 9 o'clock zone transitional structure. We point out time and time again that rip snorting extended five-minute bars are right for reversals and corrections.
And from there the pullback grind its way back until it reversed at 11 o'clock zone, at the prior session range lows.
This market is grinding higher than everyone I'm reading is looking for a pullback and new swing lows on the daily.
For me, I expect grinding higher to continue until it doesn't. The 2050 to the 2060 zone is the next major reference higher.
And from there the pullback grind its way back until it reversed at 11 o'clock zone, at the prior session range lows.
This market is grinding higher than everyone I'm reading is looking for a pullback and new swing lows on the daily.
For me, I expect grinding higher to continue until it doesn't. The 2050 to the 2060 zone is the next major reference higher.
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