Admittedly irrelevant for short term daytrading. But thought it to be interesting enough to bear in mind as to gauge real money players bias.
You got that right. Thus if S&P cash is below but close to 903 area by RTH close, brokerage firms will pop the mkt to make the event happen. Something to look out for in the last 1/2 hr.
appears as if today is SDD again but a modified SDD where most of the down action will be after 2pm ES could bounce as high as 915 HIGHLY UNLIKLEY MARKET WILL RALLY INTO TOMORROW'S UNEMPLOYMENT REPORT However, market could rally immediately after a spike down when the report is released at 8:30 EST
Don't see no trend, even down to the one minute intraday chart. Today's opening range was tested in the downside first and then broken to the upside and now ES drops back to that range, this is typically a sideway movement. Expect new LOD to be bought and HOD to be sold. We are waiting to see if Friday's job report gives the market direction.
No need for me to remind you where we're trading. Boy does it feel like 2006 all over again. I don't think I want to go back to that snailass pace trading.
hey pekelo? is that an upside down dragon on the 5min cash? target around ~ 909.5? comments appreciated, thanks, newbie
The trendline held up pretty well thus far. But just one more onslaught and I betcha it will cave under.
I don't see a doubletop anywhere. You have to have that one first to have an upside down dragon. Now we had a normal double bottom a while ago, and it had a chance of failing when the candle hit the SMA, but then it went through without problem, so no dragon there either...