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no idea up or down from here. I see no top pattern.
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it's morning hourly filled black bar. today may have some chances being a downtrend day, beware.
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Media says that big green bar was algos miss reading a headline on China Trade Talks last night. FT 71 commented that the overnight volume profile was a classic short squeeze shape. What I can see is we had two wicked fast drops since the regular open and I don't need to run Fibs to see that the slow recovery never made it past the mid zone.
And as soon as you say something about a down trend day bang we are back into range mode. With Volume Profile Point of control being a really strong factor. ES 2681.50
After a long wait, the low on March 8 has been confirmed as the bottom of the last cycle.
When this up cycle tops remains a mystery but we are already 18 days in.
Price has now hit the upper keltner for the third time, which is consistent with a bull market.
Our benchmark at SPX 2595.32 has been stranded as unfinished business.
Something to keep a note on for the next big correction or perhaps the next bear.
A plethora of down gap targets in inventory now.
While the market is bullish, I have trouble imagining so many targets could go untouched.
This morning's open session high is less than a handle away from closing one of our two remaining up gap targets.
Mr. Market is going to want to finish this one off (today?).
I continue to daydream of an ascending wedge.
If my dream is to come true, we are now on the third up thrust and it is time to pay attention.
A break of the lower blue/orange line would complete.
I am long and short SPX at different prices for different time frames.
I haven't a clue if either of these will pay.
I missed a long R2K entry at last Friday's close. So it goes.
My prior shorts were fails (as suspected they might be). Profit scales lessened the pain.
Trades with cats wrote:And as soon as you say something about a down trend day bang we are back into range mode. With Volume Profile Point of control being a really strong factor. ES 2681.50
This is bull market, buy any dip as soon as you wake up.
My comments are for entertainment/educational purpose only. NOT a trade advice.
Visiting upper BB on daily, past few times this has acted as resistance. It seems like it is more likely to close gap then blast off to a galaxy far away.