I was expecting consolidation, although lately we haven't had those kind of things. But price today stayed between the BBs on the 15 mins chart...
When 10:00 am hit we went sideways, no downward thrust or upward, just sideways. seller below 200 and buyer above and that's our day. But, Looking favorable as time progresses.
Ok so we have finally finished morning pullback and moved higher. We're here at 2729.00. I am still looking for that 2735 area to be tested and perhaps broken through to create a new short term floor. I came within .25 pts fo being stopped out earlier. I may have to revamp my stop calculations as they have been very close recently to being taken out--which is fine, but then the market is turning around at those levels so my stops probably need to be a little further.
Lower Hi`s & Higher Lo`s... Coiling up on the 5 & 10s .... Anticipating downside break by next 1 to 2 trading sessions ... Heavy, Heavy
All time frames are still long, so I have no choice here but to stay long. I believe there is a short term floor @2710 to 2714 area.
I am going to hold this day trade until closing and get out. I'll still have the swing long on. It seems there is slightly more upside pressure than down so we'll see if it's a loss or gain at day's end.