Cash gets a chance at the highs since the futures sold before the open. This is not a repeat of yesterday, imo.
Posted 25 January 2018 - 11:05 AM
I see this as a ST consolidation at high around SPX 2850...................
Edited by redfoliage2, 25 January 2018 - 11:05 AM.
Posted 25 January 2018 - 11:19 AM
Looks like we have been building a base before we head higher again.... Looking for some negative divergences on multiple charts, and don't see they have materialized to warrant anything but a mild sell-off...
Posted 25 January 2018 - 03:53 PM
Bullish volume is building on the hourly, not guaranteed but high % accuracy.
Posted 26 January 2018 - 12:08 PM
New hourly close buy issued. The problem, I don't like when they start on the open on a gap up, start, I mean hourly started at 9:30 and
closed and printed at 10:30. Usually new buys on the open fail, but not follow on buys. So, I have tight stops on my ITM positions and will close them at the end of the day if not stopped, no matter what.
Edited by CLK, 26 January 2018 - 12:08 PM.
Posted 27 January 2018 - 07:17 PM
I think I may have found something, it seems that gap ups to new highs, get reversed the same day, but the gap we had Friday was not a new high on the open so it just kept going. I am using the hourly chart for this study. The exceptions it fails, price just goes sideways.
This was why my hourly system buy, did not fail as I thought it might.
In determining new highs, I mean within the last 2-3 weeks.
I don't like picking tops out of nowhere but with these type of gaps, it is a good spot to close longs and or short the open. I will be looking for this next time.
Posted 29 January 2018 - 04:09 PM
New hourly sell on close. Will let my hedges run and not add to longs until more selling and time.