Slow trading today… very light volume. But some decent opportunities in select names
The “Trading RM" oscillator is still on the downtrend line, started testing it hard today, but then the afternoon pop took it back to flatline, Trading RM believes being patient is appropriate.
“Future(s)” were flatish, then gapped down a little, market tried to pop, met resistance, then sold off, then rallied late, but again couldn’t get this market positive. Decent two-way action. Market is relatively quiet and trying to decide direction.3 of the last 5 times we have had this type of action, the next day finished lower, the other two were flat.
“Range” was intra-day was less than the recent moving average around 9. Market couldn’t close at highs... might be another warning that things are getting long in the tooth. Be nimble a big move may be in the works.
“Going Big” was exactly 1:1 with mixed action all day. 2 of the last three times this has happened following some upside weighted days the next day is substantially weighted to the downside.
“Gap DaP” was very slow today, small fill off the opening move down, but nothing registering any momentum
Today had selective trading opportunities, money is there for the taking.
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