Yesterday's Power On Close = Strength
Today's Open = Open @ 1297.50 NO GAP(1 pt)
Result = Early Rally into Up Trend
Today's TREND = UP Trend past 7 bar
Today's 15 Minute Close Bar =Down @ 1314.75
Today's Power On Close = Strength
Daily Volume = 1.86M high Volume
Today's $TICK close = 263
Daily Market Bias For Tomorrow =
-0.071 STRONG RANGE
Daily's broke out above the channel Top of 1317 on the heels of the 7:00 ISM manufacturing numbers, confirming the short term up trend prior for the 4th of July holiday weekend.
TRADE OF THE DAY:
TOD was a 1 Shot 1 Kill early on a 4500/500 sync. THE key Clue was that Price Opened Up 1 pt above yestardays close with a very tight range WIDE PROFILE on the @ES Continuos contract, signaling major pressure/consolidation for a stronge move today.
(Notice the Wide Profile with very little range prior to the break out)
The 4500 showed No supply bars at the Globex Lows forming a double bottom on light volume. Once the Open price was rejected around those lows, we got a bounce up. the 1500 was overshot as usual on a 45/5 sync. The 500 was spot on with probars and Rambos at the low. The Best entry's were @ 1314-1316 area. The rally ran to 1325 in 15 minutes.
WHAT I COULD HAVE DONE BETTER:
For the 1st time EVER i cant think of anything :) !!!!
INTANGIBLE OBSERVATIONS:
Be Aware of the Globex action, Today we got a double bottom on light volume Overnight AFTER seeing Strength on the close. This was an indication that supply was dry.
The 4500 BB was Consolidated on yestardays close thru the After Market.
The No Gap (1pt) After Stength on the close was also a clue that pressure was building.
Finally the WIDE @ES Continuos Profile signals a larger Daily move at the 1st signs of rejecting the lows.
Dont Be afraid to move your target out - When we see continued Damand/Supply coming in while reading the tape and price is attempting to move in a specific direction or towards an inevitable target. Look at the TIME and note the 15munite and 30 Profile for Open/Close and Rejection of price potential areas.
Dont Be afraid to move your target out - When we see continued Damand/Supply coming in while reading the tape and price is attempting to move in a specific direction or towards an inevitable target. Look at the TIME and note the 15munite and 30 Profile for Open/Close and Rejection of price potential areas.