No Gap Open = Strong Up Trend Early Off Fridays Strength on Close..

Yesterday's TREND = Down trend 
Yesterday's Power On Close = Strength

Today's Open = Open @ 1264.25 GAP Up (50.pt)

Result = PreviousDay/Globes/Pre-open Continuation

Today's TREND = UP past 7 bar

Today's 15 Minute Close Bar =UP@ 1276.75

Today's Power On Close = Strength

Daily Volume = 1.99M  Volume

Today's $TICK close = 75

Daily Market Bias For Tomorrow = 

0.929 Moderate/Strong BULL

Daily's closed above the Trend channel Low closing at 1276.75. Todays rally was subtle but sure, we had bullish divergence on the ES.D and we could see another rally into the 1300 this week if we can close above the Gap zone. Im looking for another test of the lows with the upcoming cycle resistance on ES.D & ES continuous, Also we have cycle resistance on the 405000, and 135 that must play out prior to any real rallies. However It appears that some Accumulation is taking place and test days may be the clue.

TRADE OF THE DAY:

The trade of the day came after an early bounce with a 4500/500 Sync at 1262 price. The Market showed clues with Strength from Fridays close and Test on Low Volume in the Globex session. We Had No Gap Open signaling continuation of the prior day. So Strength prevailed. The 1500 Tick showed Exhaustion with a Rambo bar at the low on an Overshoot of the cycle. The 500 showed an EOT with Rambos, and Probars. The Best entry was a break above the 500 tick probar at 1263. The rally peaked at 1273.25. 10 points in all.

WHAT I COULD HAVE DONE BETTER:

Be Aware of the GAP TYPE on the Open, I got off to a rough start this morning because i didnt know the day type, fortunatlely I recognized the flow and made adjustment, but it cost me 4 points on the first trade.

I could have used the time i little better, I could have booked max profits allowing the 15 minute bar to close particularly on a trending phase/bars in the lower time frames.

SOLUTION: 

Always be aware of the day type and determine if it matches my Daily Market Bias. 

INTANGIBLE OBSERVATIONS:

When there is NO EXTREME Vix or INDU on the Open be very sure about taking an Ice Breaker trade. Combined with a Range Bias may be a strong warning against Open ICe Breakers.

Use the time to your advantage and try to allow the 15 bars to peak when the lower times frames are trending and during the 7bar zones.


Be careful and sceptical about PROBARS THAT SHOW UP ON the BACKSIDE of a PEAK. This is usually STRENGTH for the short term with the immediate trend.
In this case it showed up at cycle support and BB 1/2 line. This could indicate another test of the previous highs. 
(Notice the Wide spread Down on high volume, then the next bar is High volume close up, a 2bar reversal on high volume = STREGNTH)