BIG GAP DOWN on futures
payroll data -- killer.
IBD names red
amateur move is to get long for a bounce.
This needs time to create a base.
Daily Charts broken
IWM below 50 day MA.
AD bottomed out at 9:38 -- rising -- first bullish divergence.
Can't see anyting on 5 min -- consolidation/distribution still here.
AD rising slightly -- divergence : 10:19
10:20 -- BUY SIGNAL - rising ad , drop in /zb
yes -- /tf -- was 35 tick move
/ym -- from the low from weeks ago -- 40 tick bounce -- responsive entry would have worked.
AD -1520 rising...
10:41 -- BOUNCE OVER -- AD SIGNAL
/ym - PATTERN: wedging consolidation formation.
AD over -1500 rising
/ym - top of wedge.
that was 20t.
/tf to 915.5 !! -- filled gap down premarket --
AD rising called it -- now a PUKE candle = exit -- and done for day.
Leadership still 98% red -- can't hold up here.
AD -1033 -- rising into Major 15m dTL
$TICK higher lows intraday.
rising AD -999
short /tf 15t stop -- /zb - breaks triple top , AD starting to decline?
midday -- the best move of the day is over -- this is chop now.
AD -969 nhod -- stronger....
/tf - needed to form a larger pattern.
You get stuck trading too small patterns.
ad -912 nhod
/tf 917 -- wedge break
AD -820 nhod
/tf 917.7 nhod
12:55 -- SELL SIGNAL
6 green IBD names.
opex Fri... grinding into weekend?
VERY SLOW -- no movement here -- opex Fri. typical -- the opportunities were -- ONCE AGAIN,
in the morning.
AD -588 nhod -- this is the key Market Signal to keep you out of a short today.
still no Puke candle at the top -- so grinding on.
/zb - pulling back
end of day chop and crap
/ym -- almost touched yesterday lows -- was the hod.
/ym and /gc -- both 61.8 fib retrace again from high to low -- one day.
After big drops-- always see the fib retrace level -- that's what you want to look for.
/es , /ym -- ONE HOUR TL touch -- big picture.
Trend Up Day to ONE HOUR TL --
/zb -- TL break -- dropping at 2:20 -- so double signals to keep rising.