The ACD Method

NFLX off of the failed A test

 

Bonds breaking out. Euro came in nicely off the failed A up overnight to make a solid A down.

 

SLV, reversing hard after taking out monthly highs. Thats a nice trap. Anyone who trades this... do you use the US session OR or the Comex?

 

GS remains very strong. Nice 10 pts in follow through this month after the monthly A up.

 

During all the up move this month a very common theme was market attempts to move lower in the morning and is rejected, and reverses and goes higher rest of the day. I mean tries to take out lows of prior days and fails.

I kept thinking to myself I need to see this pattern reverse before I start to think a pullback is happening.

Both Thursday and today, the market attempts to go higher first thing and reverses sharply lower.

Is the market sending a message here? I really don't know and wonder what others think of this.

EDIT - also add ES made A downs both of these two days and it hadn't made an A down in over a month. Only A's in January were a few A ups.

 

Hilarious, Joe T just mentioned this.

 

Hmm....interesting. Very interesting.

 

I need to keep up the Finviz s&P 500 heatmap...great tool for seeing stuff like this

 

There's one in TOS too, (you probably already know this - but just in case).

 

no....i didn't! thanks!