Japan market down 3%.
/tf 980 -- already established 3 touch descending TL o/n.
tf 977.3 -- nice little bounce -- created a 3 touch TL. at 7:05 - and a quick 20 tick drop. Good synchronicity entry.
/gc - breaks TL - now emerging uptrend.
jobs #s a miss by 30k --- /tf rising though after initial drop.
/gc - had broken out PRE NUMBERS -- NOW CONTINUING.
/tf -- choppping around -- taking out early traders with the tight stops -- feeding the algos.
costs drop... + more QE may make for chop -- especially since we start gap down on top of a down day with $NAMO -31 -- no gimme shorts. You gotta earn it.
weak IBD: fslr, tsla, ddd, aig, nflx, goog,
strong: ADNC - news, partnership
AMBA -- er beat.
CYBX - er beat.
market under pressure,
AD -1600
You need to see A LOT of confirmation for a long. Nobody is going to hold on unless there's something to sink ur teeth into.
tf 969.7 --
ad -1722 staying out.
ad -1900
keeps going lower so stay out.
Trying to get cute will always cost you.
Look for synch.
/tf 50% retrace of today's move. AND STOPS RIGHT THERE. 974
974
ud hits new lows before 2 pm bernanke -- looks very weak....
look for synch -- symmetry. Otherwise you are waiting.
FASCINATING DAY.
I look for symmetry. It's dynamic and always evolving.
Super weak day
AD -1914 at the close.
IBD names stomped.
Correction continues. Not surprising.
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