Overnight trading was a range day for London/Frankfurt with a couple of 20 point or so round trips.
US range so far 34.25 points
Friday at 11:30 55, full day about 107
Thursday at 11:30 42, full day about 107
Morning profile. POC (orange line) at 2639.25. VWAP just below. Dark green and light green lines showing the 70% range called value area. Grey profile on the left edge looks like a close to bell shaped distribution. So in theory today would be trade the regression to the mean sort of day.
SPY 5m .. at resistance at neckline.. bulls small RS would be uber bullish .. gap still open… not sure yet.. may head fake down .. suck shorts in then go or bulls will explode up
fehro wrote:SPY 5m .. at resistance at neckline.. bulls small RS would be uber bullish .. gap still open… not sure yet.. may head fake down .. suck shorts in then go or bulls will explode up
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fehro wrote:SPY 5m .. at resistance at neckline.. bulls small RS would be uber bullish .. gap still open… not sure yet.. may head fake down .. suck shorts in then go or bulls will explode up
Same pattern all day. Do a quick rotation up, then a zipper then another move of 6 to 9 points, zipper, rinse and repeat. New element on the breakout, stopped at the R1 level. Pesky magic numbers once again. Expecting this move to stall out and return to today's range. Not seeing booster rockets igniting, must need more shorts to squeeze.
fehro wrote:SPY 5m .. at resistance at neckline.. bulls small RS would be uber bullish .. gap still open… not sure yet.. may head fake down .. suck shorts in then go or bulls will explode up
pullback better be bought around ema20, you don't want to see it deeper otherwise it's 3 push up.
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fehro wrote:SPY 5m .. at resistance at neckline.. bulls small RS would be uber bullish .. gap still open… not sure yet.. may head fake down .. suck shorts in then go or bulls will explode up