deep gap on Cyprus news.
Big jump around 3 am -- euro open -- partial gap fill.
/tf 937 -- from 951 fri high.
/ym 130 pt. range -- nearly 90t bounce off o/n lows.
slow grind back up
/tf touches 941
/gc - new high 1607
VIX 19% !!!
coal, nat gas really strong. BTU, REXX green.
/tf -- weakest - risk off clear.
/ym -- holding up -.3%
AD -- -1070
UD - not improving -70
/zb - flat
short /ym 14405 -- 11t stop. into VPOC.
IDT -- div payer - at 52 wk high.
stoppped /ym -- dumb
/zb -- no dTL break.
11 am - /tf TRIPLE TOP 944 = great short entry
/zb BREAKS DTL intraday.
/zb TL break
how far can the gap close with these Signals?
IWM -- gravestone 5 min. candle. 11:32. euro close.
significant time here -- for possible shift.
/tf - tests Fri lows -- sup. now resistance? Or just keep ripping?
/tf rising as internals get worse...
Got too bearish in my thinking -- grind up is relentless. Just stick with TL formations with 5 min. candles -- don't fight them til they break.
/es 1550 -
/ym - GREEN? lol.
Cyprus fears are b.s. -- duh -- trade price, not news. Always.
/zb plummeting new lows
XHB - n 52w h.
amzn, pcln -- BROKEN with LULU --
nat gas, xhb names leading.
2:15 BIG SELL SIGNAL !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
short /tf -- top of dTL -- 8t stop. basic entry -- Market Signals Bearish.
market won't drop though...
IBD names strongish
/zb near lows...
/zb nlod - grind up
/tf breaks dTL -- push.... 2:15
/ym NHoD - boom
got short /tf -- on double top -- with no signal - just responsive entry -- and nailed it.
coverd for 13t.
up 12 on the day. blah.
should not have covered -- just cuz "it's taking too long" is noise. Not a reason to do anything.
IBD names strongish
all sectors red.
basically - you can't just buy 'whatever. LULU, amzn, goog -- to pricey is getting hurt.
VPOC 945 area -- nothing to do here - it's value. support.
AD -700 -- /tf falls back after double top.
Had it for 40 ticks -- have to hold - you never know when your winner will pay for all your losers.
UD - dumping -191
rainbow day.... saw it. -- just had to keep with 5 min TL..... never would have been stopped out.
/tf breaks 5min dTL -- 3:51
rexx, ctgx idt, aapl, lxk, kcap, btu, snts -- all green ... nice.
/tf -- rips AH -- breaking the TL -- but I'd would have already been out.
So today's market was:
/tf gapped down on Cyprus news overnight Trend Down until 3 am - euro open then pop -- a base was built...
9:30 open was another pop and /tf climbed to gap fill... p/b -- double top then give back most of the day session.
/ym -- similar climb to gap fill -- slight green... double top - then again -- the pullback that provided that big gain of the day.
The market continues here now -- once again breaking the dTL and climbing almost back to highs.
Market Signals were red ALL DAY so it was right to be patient and wait for a resistance -- and once again the classic double top presented itself at clear resistance -- the gap fill area.
So today was not really difficult despite the gap down which made things seem 'tricky' - but there's never anything tricky about support / resistance areas -- they form and you just wait for them to touch and then get a great R:R entry.