The main focus is on setups and scan outcome, that will provide viable opportunities.
Market Structure: Duration bearish market (stocks move in tandem, occasional oversold rallies).
Primary Indicator: Green (bullish continuation and bearish reversals are favorable).
Secondary Indicator: Breadth thrust 12 Jan / Countermove attempt 18 Jan. Current MMFI = 64.56.
MR10: Focus is bullish continuation.
SPY: -22 None
QQQ: -2 bullish continuation + Mean
IWM: 0 bullish continuation + Mean
20 percent study: +22/-7.
Conclusion: Yesterday weakened acceleration in the downtrend followed with some upside momentum which also is represented in PM, possible bullish short term. Will run 9 million, combo scan and be selective. DT in case market indicate acceleration to the upside. Yesterday indecisive candle as break reference, observant first 30-45 min of open.
Market Structure: Duration bearish market (stocks move in tandem, occasional oversold rallies).
Primary Indicator: Green (bullish continuation and bearish reversals are favorable).
Secondary Indicator: Breadth thrust 12 Jan / Countermove attempt 18 Jan. Current MMFI = 64.56.
MR10: Focus is bullish continuation.
SPY: -22 None
QQQ: -2 bullish continuation + Mean
IWM: 0 bullish continuation + Mean
20 percent study: +22/-7.
Conclusion: Yesterday weakened acceleration in the downtrend followed with some upside momentum which also is represented in PM, possible bullish short term. Will run 9 million, combo scan and be selective. DT in case market indicate acceleration to the upside. Yesterday indecisive candle as break reference, observant first 30-45 min of open.
Note
Will be considerate at open since there is a hint of indecisiveness mixed with the bullish PM. Focus on HQ setups.Note
Market had positive breadth in line with expectation, however slow upwards grind on low momentum. There are some setups viable, but will take none and closed DT. Not much movement / intraday range to capitalize on.Note
Note
Update
Technical Trading: Research and Application
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Technical Trading: Research and Application
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.