Yesterday's TREND = Bearish Range
Yesterday's Power On Close = Weakness
Today's Open = Open @ 1343 GAP Up (13.5pt)
Result = Tight range consolidation
Today's TREND = Tight RANGE
Today's 15 Minute Close Bar =DN@ 1314.25
Today's Power On Close = Strength
Daily Volume = 2.05M Volume (Blocks on the Daily)
Today's $TICK close = -422
Daily Market Bias For Tomorrow =
0.5 Modest Bull
Today was a wide 14 pt Gap down that lead to a tight range consolidation day. As ES is in Overbought territory im looking for a bounce trend day to the upside prior the resumption of the appearent downtrend. Also i wouldn't be surprised to more consolidation over the next few days.
TRADE OF THE DAY
the TOD was a 5/15 sync from the pre-open that played out as a ice Breaker fade. We saw Pro bars appear at the lows as the 2nd bottom in a double pattern. The move was good for 5 pts top to bottom.
WHAT I COULD HAVE DONE BETTER
was react faster the double bottom, taking into account the pre-open low that needed to be tested.
INTANGIBLE OBSERVATIONS:
look for pre-open lows to be retested on the open, if they are consistent with the Ice breaker directional strength, then enter, if not stay out or fade it.