Overnight has been in a lower balanced zone and small range so will be looking for the break of the red zone for our first clue of direction, A nice impulse move on this break would be very good.
I do have a 3170 top side target for any move over ATH.
any move lower will have us most likely stall out in the lower distribution above 3114
Daily Market regime
Bull Quiet
Selloffs are quick
and short lived
Use as buying opp
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The best shorts get
stopped out quickly
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Longs are slow and
steady
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Also known as the market
regime that pisses off
the bears more than
anything
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Always In Long Market
After employment report we got a very strong move so here is my thinking.
Above 3138 we go to 3144 minimum, and below 3127 we spend the day chopping in that distribution.
This could be a great impulse to play off of so will be leaning long on almost every dip.
over night action started balanced inside yesterday then made a little gaping move higher so a retrace to 3114 and then continuing up is one decent idea. I do see 3117 as a import support between 2 distributions.
If we break above 3125 I can see us heading for the blue box target area.
So today becomes a day the bull get to decide if the day session ATH is going...
Use this as a guide to develop your setup:
Main items we can see on the Daily Chart:
a)The price was not able to broke above the Highet trendline of the White ascending channel.
b)The price Broke the ascending dash-dot light blue channel.
c)Price Found Support on the Higher trendline of the Yellow channel (most significant structure of the chart).
d)Currently,...
The move over night is long and looking happy at its current location, however it is not the only place it was happy last night provide less defined yet more interesting potential open.
Today's red zone just like oil is a border between 2 distributions and also is an area that if we break from the red zone the target for me is pretty clear.
After two day's of good...
ES has moved down very nicely and could just keep going with little effort to bounce, but the move has stretched and on bell a bounce back to 31.04 area to give a good short location falls into the wheel house. Also a test of teh bottom of the red zone would not be bad also. Keep an eye out for tweet action that cause impulsive up moves that changes the entire...
Over night we moved to one more ATH and then backed off back into a multi day range, so we have a neutral balanced direction free open, or at least so far it looks that way.
will watch the open and see if any directional clues come out of the action. There are a few things that we can look for and that is a rth test of overnight highs and also some down side...
one more overnight long side trade that moves then balances, so remain leaning long until the market tells me otherwise. I do not really have any up side targets but if you had a good order flow package you could look for concentration of over head supply to get a target.
a break below this zone in the over night could see some back filling operations and think...
Overnight went big bull then came back into balance leaving us leaning about 60% long. Thinking a bit of a grinding choppy trade that then finds buyers and pushes to overnight high or at least try.
Now in the event this does not happen and the choppy 10 point range break lower then the retrace back to the 3109 could be very fast. And a fast move could scare the...
The overnight is long and very sideways in a small contracted range. so looking for a smaller break out move to the blue levels indicated. At this point I will leaning to long side trades.
overnight is mostly long and would think a further move to the upside and will look for a pull back to 3106 area or a break above 3115 for a retest long, If these do not happen to break out then will be a small choppy day.
S&P remains inside the prior day action but is testing higher on strong overnight upward action, and above the red zone should see it back around ath levels so will watch teh break close. If we remain inside the range could be a good size and still remain consolidated. Looking for impulsive indicators to get some continuation action from.
over night is very balanced and inside so if we remain inside will be a very choppy day and will require great trading care due to size of range. Will look for a break out and support or resistance retest to take a directional trade. Watch red zone and first blue line on both top and bottom for a directional idea.
The lines on the chart are ES futures lines to make them correct for SPX500 add 1 point to every line!!!
The overnight action does not mean much to me due to the action is still inside the multi day consolidation. So will be watching for reaction in the RED zone top and bottom area and my other marked areas, away from these levels I most likely will take very...
