Yesterday's 15 Minute Close Bar = UP @ 1329.25
Yesterday's TREND = Range
9:00/Reversal = Range
Yesterday's Power On Close = Strength
Today's Open = Gap Down (3.5 points) Sweat spot for Gap seal
Result = Gap Seal support bounce/reverse off cycle and pivot support @ 1225.00 and trend in the intended direction.
Today's TREND = Tight Range 9 points
Today's 15 Minute Close Bar =@Down @ 1327.00
Today's Power On Close = Weakness
Daily Volume = 1.5M low
Today's $TICK close = UP@ 264
Daily Market BIAS for Tomarrow =
-.786 Moderate/Strong Bearish
Today we continue to see a slowing very tight rang market that trends up early and sells off after lunch for the remainder of the day. The daily's are showing Low volume at these peaks and consolidated days lead to large moves
The trade of the day was a classic Gap Seal on the open that bounced off of the previous days support @ 1225 which coincided with the pivot support then proceeded to rally to the 8:00 peaks. This has been very consistent lately as the Gap Seals open with a sweat spot number of 3 (>5 and <2 ) that tells of the rally reversal move beyond the gap areas.
15 minute chart shows support and pivot bounce.
1500 cycle support with exhaustion and bullish divergence.
To Catch these moves you have be very swift in determining the direction for the day. Confirm opening bias with Aftermarket Prep and STAY WITH THE PLAN. Look for Gap range (the specific number) then be aware of the OverNight Support/ Resistance.
Intangible Observations
When Cycles Drag below the 0 Line and STAY PARALELL, stay with current trend as bias.
To Catch these moves you have be very swift in determining the direction for the day. Confirm opening bias with Aftermarket Prep and STAY WITH THE PLAN. Look for Gap range (the specific number) then be aware of the OverNight Support/ Resistance.
Intangible Observations
When Cycles Drag below the 0 Line and STAY PARALELL, stay with current trend as bias.