Thursday, April 4, 2013

april 4

/ym -  overnight rally  - was once again a perfect 61.8% fib retrace from highs to lows of yesterday. 

/zb turns up and

/ym -- fading now from the fib touch.

/tf fading under 920

data at 8:30 -- front running disaster?

financials green though.

Where has the market been?     to the skies
Where does it want to go?         wants to take out the dip buyers?

/cl - fake b/o -- dips below o/n low -- this market always hunts stops aggressively.

/es  1550 --
/ym 14500

/zb -- pushing to resist.
/6e - new lows broke

ym - bounce 14500
/es 1550 --

market wants to stay at value here

AD  700s

stay long... 
strong market

AD 820

shorts fighting a tough fight so far.

IBD list green
/zb p/b
vix -2.25%

easy to see a cover rally.

reenter /ym short on TL -- 12t stop -- going with the TL.

internals weakening.

/ym -- o/n high stophunt -- dropped 55t

expect choppyday based on mixed market signals.

YES -- great call -- RANGEBOUND day.

AD 639
/zb  .41%  ???


pennant resolves to downside in afternoon --

AD  160 -- declining.

Daily chart in downtrend -- tops get sold now?

AD 50
/zb  .65%
vix 3%

new lows possible

/tf -- in a large daily pennant --

AD flat --

today is a poor risk reward game.

/tf  breaks to upside now -- pennant broke

AD 400 -- up at highs -- short it?   seems like a trap.  Feels like a trap.

But technically - a good trade.

$TICK - -higher lows all day...  still say bear trap setting up for squeeze.

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