Today we Gap Up 19.25pts on the open found quick support and gradually drifter higher till the 7zone then drifted lower in tight ranges. Not many opportunites worth the risk during the 90 grind.
My Daily Trade Video here.
Recap Notes:
Trade Selection - OK, I had 2 good scratch exits, and 1 qualified that could have been managed a little better,i missed an opportunity to add on but was still a good trade. I ended with a scratch day with No regrets. 3 Sequences
Today's 15m Close: Weakness. High volume Wide Spread Up Bar on Block Volume off the lows with days Gap as Resistance.
Accumulation Range: Intraday Session: Blocks @ 1253-1258
Globex: Blocks 1251-1255
Globex: Blocks 1251-1255
Distribution Range: Block Volume at 1260-1263 13t/45t Blocks @ 1262.75-1264.75 on 15 9zone
Today's $TICK Close: +366
The Daily's
Dow - Weakness. Closed Up on Low volume but off the highs approaching a cycle Resistance
ES.D - Short Term Strength. 135 Bounce off old R new S on high volume,Closed Down on average volume BUT above trend line break, signaling potential long continuation. Also approaching Cycle Resistance
Internals - Weakness. GE printed an St* with Doji again signaling possible weakness. BAC was rejected at the old S now R again but closing down MSFT open above old S new R and close below on high volume and approaching a Cycle Resistance.
INTANGIBLE OBSERVATIONS:
Be Very Patient on slow opens - On slow opens focus on action around time intervals and position accordingly, these may be the best RR:R and only opportunites on the day.
When Probars and Block Bars show up on the right side of a peak and dont distruct, then this is a buying clue.
Conversely when Pro's and Blocks show up on the right side of a spike and doesnt rally then this is a selling clue.
When Probars and Block Bars show up on the right side of a peak and dont distruct, then this is a buying clue.
Conversely when Pro's and Blocks show up on the right side of a spike and doesnt rally then this is a selling clue.