Thursday, May 26, 2011

1 shot 1 kill then Early Reversal..

Yesterday's TREND = Bullish Trend
Yesterday's Power On Close = Strength
Today's Open = Open @ 1343 GAP Up (1.5pt)
Result = Early Reversal Up Trend
Today's TREND = Early Reversal Up Trend
Today's 15 Minute Close Bar =DN@ 1326.75
Today's Power On Close = Strength
Daily Volume = 2.25M Volume (Blocks on the Daily)
Today's $TICK close =  258

Daily Market Bias For Tomorrow 
0.5 Modest Bull

Today was an early reversal that turned at the 7 bar and conitinued to rally to the close. On the Daily we broke above yestarday's reversal test bar indicating new buyers and bullish pressure, The crucial number for tommarrow will be the 1330, If Es can break this level we may get a run to the 1350 resistance, Conversly If we move lower i would expect a bounce off 1315 cycle support.
TRADE OF THE DAY
earlt 1 shot 1 kill on a 5/all sync after 1500 tick exhaustion showed up followed by bearish divergence. This formed a double top confirmed by a probar. price sold from the 1318.50 area to the 1312.50 low.
WHAT I COULD HAVE DONE BETTER:
morning pre prep routine, still frazzled from CPU loss issues.
INTANGIBLE OBSERVATION:
Screen View is Critical, may have to change. Im reluctant as I am aware of the re learning curve of getting used to a New view.