Chop, with increased volatility… market is in a range, but the last couple days have offered great opportunity. Today was different in the action seemed to not be clear and whippy.
The “Trading RM" oscillator is trying to pop, but meeting resistance on a downtrend line… like Trading RM has said before, when it pops thru the trend, be ready to get aggressive, until then be patient.
“Future(s)” had took a breather today after a slight pop-up the last few days. Mixed action today, but nothing stuck out as special.
“Range” went back to the recent tightness the market has been experiencing lately, less than ten S&P futures handles. Perhaps a tightening before an uncoiling?
“Going Big” was mixed all day and basically show only a slightly greater percentage to the downside when compared to percentage to the upside. We have had 3 out of the last 4 days showing huge percentage gain divergence when compared to downside percentage, so a correction day was likely due. 4 of the last five times the oscillator registered a day like today, the next day was highly weighted to the upside, however, this is just trying to predict future from history.
“Gap DaP” has been a bit mixed, with futures trying to push the market down only to get a pop by days end. Trading RM discussed how possible gap fills from the opening print are possible, and lately, the fills have been partial, today - not so much. Since futures cannot get continuation, it is entirely possible the market could push significantly higher in the near future.
While today wasn’t incredible trading, opportunities were there.
Good luck and Great Trading.
July 29th Market Conditions
Chop, with increased volatility… market is in a range, but the last couple days have offered great opportunity. Today was different in the action seemed to not be clear and whippy.
The “Trading RM" oscillator is trying to pop, but meeting resistance on a downtrend line… like Trading RM has said before, when it pops thru the trend, be ready to get aggressive, until then be patient.
“Future(s)” had took a breather today after a slight pop-up the last few days. Mixed action today, but nothing stuck out as special.
“Range” went back to the recent tightness the market has been experiencing lately, less than ten S&P futures handles. Perhaps a tightening before an uncoiling?
“Going Big” was mixed all day and basically show only a slightly greater percentage to the downside when compared to percentage to the upside. We have had 3 out of the last 4 days showing huge percentage gain divergence when compared to downside percentage, so a correction day was likely due. 4 of the last five times the oscillator registered a day like today, the next day was highly weighted to the upside, however, this is just trying to predict future from history.
“Gap DaP” has been a bit mixed, with futures trying to push the market down only to get a pop by days end. Trading RM discussed how possible gap fills from the opening print are possible, and lately, the fills have been partial, today - not so much. Since futures cannot get continuation, it is entirely possible the market could push significantly higher in the near future.
While today wasn’t incredible trading, opportunities were there.