Gap up -- again.
tf 1011 at 7:53
TSLA added to QQQ. 2.4%
YY, SCTY, AMZN strong.
GDX, GLD strong on China inflation data.
IBD names, regional banks strong.
IYT broke TL to upside... confirming.
QQQ up 9 days in a row.
oil flat 103.05.
PCLN 888 -- huge winner yesterday.
XHB -- under 50 day MA - lots of distribution. Really not participating but it doesn't matter for now.
XLF - pushing hard - may hit new highs soon.
/tf -- ran up to 1013, TL break, double bottom 1009, back to 1011 -- small backtest of TL break.
premarket trading may be best to take double tops/bottoms as mostly rangebound but difficult with no Market Signals to work with.
SOYBEANS, CORN -- UP 1.4% huge jumps --
CF, MOS may spark
Backtest entry for /tf -- right on -- no heat as it backs down again 1010.
/cl drops 102.77 -- o/n lows.
note: yesterday's failed trade -- triple bottom after a b/o -- but the adv-dec. never popped -- so it was a prone to failure. Must have everything going our way.
/tf 1012.3 9 am.... .57%
TSLA, DDD, amzn, nflx, scty, irbt, aig, yy, snts, gmcr push.
/tf -- tl break / backtest -- and pullback now to 1008.9 -- almost to the old high b/o --
AD trending down to 300 at low.
big gravestone doji at the open was the signal to look for short -- and that it was safe to get in for test of on low.
/tf lod 10:29 am -- look for 11:30 entry???
/tf 1014 -- just need to get on the TL and set tight stops -- the winners will take care of the losers.
Market Signals confirm -- you don't have to wait.
You just NEED 3 TOUCHES of line.
AD 1100 -- no shorts possible... yet.
Dangerous market to short.... squeezing. You need a TL to work with, not a hunch.
small p/b to 1013...
no TL formation..
double top? too strong. No TL.
can you short a triple top wit had +1200 and all signals bullish? I just don't think so.
Need confirmation from somewhere. Can't be purely a chart - has to be within context of the day.
triple top /es -- failed. Internals in Trend up Day.
+700, +1200 adv-dec.
tf 1017 --
XHB -- ripping huge bounce on low vol.
AD 1390 --
tf 1017.50 -- double top -- flattening adrl.. midday rangebound.
adrl trending down 692 -- could look for a TL to surf down...
XHB -- still trending up.
AD +1000 = no short set ups period? Would this save a lot of bad trades?
AD 1300+ today so definitely not.
/tf rolling back 1015
AD 1400... just too strong to tank so don't bother.
PERI 8.95% end of day.