ES Journal Archive (2011)

sh 1283.75 for a scalp,creekboy, keep an eye on djt and advance /decline issues, djt at midrange for the day and adv,dec negative 15/12

 

djt triple top

 

it will be interesting to see how close goes today with 3 day weekend (MLK)

 

usually if a gap does does not fill within 3 days if means continuation.



Today is day 3

 

how do you find or keep up with statistics like this ?

 

also with a gap that far away I sure don't see it filling. I hope you don't mind the questions learned a lot from your tid bits of advice.

 

I read it once many years ago and have found it is often true but I have never tried to backtest it.

 

I was just about to write a post about how I would have liked to see broad strength on my sector screen to trust an upside breakout. At that point I had over half the sectors in the red.

The NYSE TICK however, is building value higher for the day.

Then I saw that all my sector ETFs started going into green, as the market broke above 1285. Maybe we`re going higher for the day after all.

So, sector ETFs are in the green, but not very strong. NYSE TICK is sloping upwards. Both indicating strength, but not very much so. Might be another range day.

I`m not sure if I want to go long today, but I`m not shorting anything at this point either. Might consider a short @ 1283 if we go there.

 

add 85.86

 

Several sectors dipping back into the red and TICK is retreating. It seems like higher price levels were rejected. If we close below 1285 on the 5-minute, I`m short.