Yesterday's Power On Close = Weakness
Today's Open = Open @ 1212 GAP Dn(34 pts)
Result = Down Trend
Today's TREND = Gap Dn to Down Trend
Today's 15 Minute Close Bar =Down @ 1111.75
Today's Power On Close = Weakness
Daily Volume = 6.1M ULTRA High Volume
Today's $TICK close = -1110
Daily Market Bias For Tomorrow =
-0.214 STRONG RANGE
Daily's are showing Signs of more weakness as prices gap down 34pts and continue to sell off through the day. The charts are showing as steep a decline as any indicating that long term players are still selling, stops are still being hit, and pros are not ready to step in.. All this means supply is still waiting at lower VALUES.
TRADE OF THE DAY:
No Trading But prices sold off to 1137.75 after 9 zone, after Openning 34pts down. The Whipsaw is Far too much to warrant participating in such environment so im choosing to watch the madness from the sidelines.
WHAT I DONE BETTER:
NO Trading
INTANGIBLE OBSERVATIONS:
REMEMBER that entering on the right side of the Peak or Spike is the safest entry. Try to forsee peak areas and keep this in mind, many time I enter on the left side of the forseeable peak or spike and have to sit thru heat.