Yesterday's Power On Close = Strength
Today's Open = Open @ 1332.50 GAP Dn(.75 pts)
Result = Early Down trend / Midday Reversal
Today's TREND = Dn Trend / Midday Reversal
Today's 15 Minute Close Bar =Down @ 1326.25
Today's Power On Close = Strength
Daily Volume = 2.7M High Volume
Today's $TICK close = -731
Daily Market Bias For Tomorrow =
0.5 MODEST BULL
Daily's are showing Signs of short term Weakness as price was reject at the Resistance for a second time, this time we had Bearish Divergence after the NoD from monday, However we are at a Cycle Support on the ES.D and ES. Also the 135 had Rambos at the lows and the 40500 is held at support with bullish divergence in the back. We found New Value at a lower price today but the profile looks bullish.
TRADE OF THE DAY:
The TOD came off the 13,500 on an Open Ice Breaker that was a 1 shot 1 kill on the Globex Continuation Gap of .75 NO GAP.
(Notice the Background Resistance on both charts, the break below volume @1331 on the 1500 tick was a great entry for max 4 pts)
WHAT I COULD HAVE DONE BETTER:
Done Well with BB Reversal Clues
SOLUTION:
Really focus on the overall morning trend and DONT ENTER UNTIL i get sure
INTANGIBLE OBSERVATIONS:
On less than 2 pt Gaps, Ice breakers May be 1 shot 1 kill against Globex Highs/Lows, especially on high volume breaks