Today’s intraday price action in the major US Indexes was nothing short of fascinating. Swift moves caught both longs and shorts off guard, and momentum, velocity, and volatility was high – despite the day ending not far from where it started. DIA 5-minute chart: I expected an upside, potential upside reversal bias to the day…
Today was quite the interesting and surprising day in the major US Indexes. Why? They flip-flopped more than a politician campaigning. Let’s reveal the intraday action and see if there’s anything we can learn from today’s action. DIA – Dow Jones 5-min chart: There really is so much to say about today’s action. Let’s start…
Today’s action slammed both bulls and bears… more than once! It was another rough trading day, which can be expected during the summer months of low (relative) volume. Let’s view some of the price structure trades that could have been taken, in an effort to familiarize ourselves and trade more appropriately next time. Let’s use…
Friday’s action almost turned out to be another trend day down, but a recovery into the close prevented this development. Let’s look at some of the idealized trades we could have taken during the day, to learn more about these patterns should they develop soon in the future. The DIA – 5-minute: The day began…
After forming two seim-dojis in a row (indicating relative indecision), the market unveiled a pure trend day today, allowing quick and steady profits for those who were ready to trade it for all it was worth. How might you have traded today’s trend day? Let’s look. The odds were slightly higher that a trend day…
As evidenced by today’s intraday price action, you’d think the market either had schizophrenia or was potentially bi-polar. Once the decision to hold interest rates unchanged at 2%, the market swung sharply four times before settling down for the close. Was there any chance of profit in this volatilty? Let’s look. The NASDAQ QQQQ ETF:…
What do you do when you have a rough day trading the markets? What does a rough day look like? Today was a rough day for me, as my style of ‘scalping’ momentum trading, which relies heavily on impulse and moving averages, totally fell flat today in the DIA – the market I trade most…
Today’s price action was in some ways similar to a trend day, but the price action wasn’t as clean as expected. Let’s look at some of the key trades we could have taken in today’s market price structure. 5-minute chart: DIA First, the market began with an overnight gap of less than 100 points in…
If you’re following the intraday charts, momentum seems to be diverging to the upside as selling pressure is waning and buying pressure seems to be picking up, as the shift from supply to demand is comfortably shifting. Let’s look at the 30-minute chart of the DIA: Although it’s clearly a short-term shift, we see at…
With the day’s action complete, let’s look at the key points you could have added to a core position, or traded for quick scalp profits during the highly expected downswing in the market today: First, there was a prevailing bearish bias going into the day from the structure of the daily chart on the Indexes…