Great opening opportunities, followed by slowness, some news, and two-way action… market broke the range, but it may, or may not last.
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 taken a breather yesterday, today a pop-up with good two way action.
“Range” was a lot bigger than recent days, but not one-way. As was predicted last night, the market uncoiled, however, smaller than recent pops, thus possible the move is completed, only the markets will tell us.
“Going Big” was slightly greater percentage to the upside when compared to percentage to the downside all day, but less than recent history has shown. As was written last night,
“4 of the last five times the oscillator registered a day like today, the next day was highly weighted to the upside.”
Since the markets did not have quite as large a divergence, a breather could be coming.
“Gap DaP” provided a look today for the markets to try and push higher given little continuation with futures morning pushes down. It happened, we continued to the upside after a large gap up from yesterdays close. Given the lack of afternoon rally, Futures traders could feel it is time to push lower, or give 1000 another shot pre-market.
While today wasn’t incredible trading, opportunities were there.
Good luck and Great Trading.
July 30th Market Conditions
Great opening opportunities, followed by slowness, some news, and two-way action… market broke the range, but it may, or may not last.
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 taken a breather yesterday, today a pop-up with good two way action.
“Range” was a lot bigger than recent days, but not one-way. As was predicted last night, the market uncoiled, however, smaller than recent pops, thus possible the move is completed, only the markets will tell us.
“Going Big” was slightly greater percentage to the upside when compared to percentage to the downside all day, but less than recent history has shown. As was written last night,
“4 of the last five times the oscillator registered a day like today, the next day was highly weighted to the upside.”
Since the markets did not have quite as large a divergence, a breather could be coming.
“Gap DaP” provided a look today for the markets to try and push higher given little continuation with futures morning pushes down. It happened, we continued to the upside after a large gap up from yesterdays close. Given the lack of afternoon rally, Futures traders could feel it is time to push lower, or give 1000 another shot pre-market.
While today wasn’t incredible trading, opportunities were there.