Friday, December 28, 2012

Fri. 28th

Heavy selling

advn-decn:  -1442,  -1582   OUCH.  look out.

advn decn 1502 - improving a bit...

very weak signals...

short /tf on wedge break after gap fill...  technical move can take it to 824....  

advn-decn back to lows with weak TICK.

don't forget:  slow choppy days -- must be more responsive.  This wedge break 'confirmation' may fail -- more likely to be rangebound.

/tf  currently at 50%  fib level from yesterday's range -- indecisive.

stopped out -- paper  /tf short.    chop indeed means -- responsive trades only.

/tf 834    advn-decn 1174 --   won't drop.   INVN hits 11.00

/tf -- and it rips above O/N highs on some news....     advn-decn -347

/tf pullback -- slow day.   some news with fiscal cliff keeps /tf green.

IWM  may just pin at 83 which means we're already done for the day.   Best opportunity is over.

/tf  triple top  5 min candles -- flush?   at 12:44

clear triple top -- leads to the easy fall /tf --   831.50 is target ..... now 832...  see if it hits -- the 50% fib level is target.

-900 advn-decn  as Obama talk starts....   not great but 3 pm -- algos can take control on low vol.

/tf  exactly unch.   exactly at 61.8 fib, too.   funny.

/tf  sinks on no deal news... -1100 advn-decn.   830 broke...
es - full rainbow 1396   --  does it keep going????

Tf goes below 8 am  lows --  long tail - picks off stops.... bounce.  lol.  Nasty.

/es dumps AH -- stops ripped out.

INVN closes green.   Follow strength.

/tf - dumps below 0 fib - /es breaks down.

NOTE:  High of Day can often be anticipated by always looking at Market with a Higher Timeframe (see chart)

/tf makes a 3rd Touch before finally plummeting end of day

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