Slow trading today… market pushed lower until the afternoon bump which again couldn’t bring it positive, might be a sign.
The “Trading RM" oscillator is still on the downtrend line, started testing it hard today, but until it pops, Trading RM believes being patient is appropriate.
“Future(s)” were mixed but pretty much one-sided by days end. Market is relatively quiet and trying to decide direction.
“Range” was intra-day was a bit more than the recent moving average around 16. When including overnight futures it was bigger. Market couldn’t close over 1000 level as it has for the last couple days... might be a warning shot As such, market seems like it is losing some steam. Be nimble a big move may be in the works.
“Going Big” was greater percentage to the downside when compared to percentage to the upside all day, a little over 2:1. Futures have been behind the game, or way ahead, but might have incentive tomorrow to push down. Trading RM is definitely looking for more downside divergence tomorrow, today was expected.
“Gap DaP” has been spot on recently. Today’s up a small amount and then market lower was not a surprise, which followed the gap theory well. If futures try to push down more than 10 handles pre-market, look for continuation to the downside as recent history shows. Either a definite lay it all out there is coming or market will show traders who is boss.
Today had selective trading opportunities, tomorrow could be more of the same or very broad based.
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