cash dow trans and ndx, have some work to do in ndx,trans and dow to get this market to drop,spx is the only one in a clear drop, the others are still above earlier resistance breakout levels
I'm expecting a range day between 1983-1992. If we trade above or below those levels, it will make me change my game plan.
one possible scenario is that the ndx,dow and trans made a last gasp up, sort of a bar that goes up and collects the buy stops, then recedes, another scenario is that that blip up is real and the 4 will resume up, once the spx rejoins them spx is 500 stocks dow is 30 stocks trans is 20 stocks i think ndx is 2000 stocks
That's certainly what they did yesterday on an intraday level. I placed the short yesterday right after they ramped it up, and started to push it down yesterday afternoon at about 1993. I saw the buy stops get hit and knew that would fuel the momentum down.....bc that's how the s&p works. I tried showing my wife that it was going to fall about 10 points, and to watch my predictive abilities. She said she didn't care as long as it made me money.......women lol.
Scalped TF for Cash Pivot test on opening drive, out now as Europe is not cooperating. Long KRE again, smaller size give worse location with avg price at 39.20, partial at 39.44 and then observe. Exit 39 or add if Held Bid above 39.20 after 0840 CT.
KRE add at 39.20 inflection. Europe better, watching for intraday negative trend line test there as catalyst for Cash Pivot tests across the board here.