Tuesday, June 18, 2013

June 18: pre Fed day.

Once again - ramp overnight to yesterday highs -- and beyond.

/tf pushing to 990

and just takes out ystdy highs at 5:50 - backs down 30 ticks.

Have to be willing to responsively enter  double tops/bottoms in this market -- b/os are failing -- reversing quickly.

Algos willing to let things run but not the usual entry.

/zb   - new lows....   rates rising.  Direct correlation now = usually bearish.

IWM leading -- risk on.
weak /zb does not matter so far.

anticipate range day?  Look for the edges.   5:50 am already the top.

adv-deck 575
IBD leaders strong

nq, es ym  stronger than /tf  --

Fed tomorrow.

advrl  1240 --

low volume ramp.  Have to be willing to go with it.  

advrl - trending down at 3:05 --   rainbow?

Two possible entries -- the responsive entry for the whole enchilada and the safe one.

Super low volume today.

Strong internals.  Don't be a hero.  When the herd buys, just say moo and buy.

No comments: