ST trend: down (with potential bottoming attempt) On Friday we were noting that the ST trend was up with potential topping pattern, as FGSI and IGSI were at extreme optimism and near term the market was overextended. We mentioned that as long as danny is supportive to price more upside is possible and indeed once […]
ST trend: up (with potential topping pattern) Yesterday we were noting that the ST trend was down with potential bottoming attempt as FGSI continued to show unconfirmed low set-ups. We did mention that ML and macro-ML were the key levels for the trend and that proved once again true. Price continued lower, back-tested ML, rejected […]
ST trend: up (with potential topping pattern) Yesterday we were mentioning that the ST trend was down as price made lower lows in the o/n and buyers had stepped in to push a bounce into a ML back-test. We noted that what would happen at ML would be important. Price was indeed rejected at ML, […]
ST trend: down (with bottoming attempt ongoing) On Friday we noted that the ST trend was down as sellers pushed prices to lows at the all important 4280 lvl and then rejected price at ML. We mentioned that ML might be back-tested again and also that "bounces are sell opportunities, until proven otherwise". Both came […]
ST trend: down Yesterday we were noting that the ST trend was neutral as both sides were inefficient via FGSI. The latter was showing a potential large divergence set-up, which normally points to a large decline (80-100 points). It didn't play out exactly, as the prior high was surpassed, but it proved to be correct […]
ST trend: neutral On Friday we were noting that the ST trend was neutral as the market had consolidated in the o/n following the push on Thursday and was back-testing ML. We did mention that "As long as buyers hold ML, they could continue to push higher immediately" and that played out nicely. ML held […]
ST trend: neutral Yesterday we were mentioning that the ST trend was down with potential bottoming attempt. At the time we were testing the unconfirmed low on FGSI and it looked like the final low wasn't in yet. But buyers held that low (narrowly) and after the RTH open never looked back. We had a […]
ST trend: up The market had some wild swings both ways since Friday's close. As the cash market was closed for the holiday on Monday, the algos had some fun, making a lower low on Sunday, then 80-100 points up, down and up again. At the end we are close to Friday's cash close, so […]
ST trend: down (with potential ST bounce attempt) Yesterday we were noting that the ST trend was neutral as both sides were inefficient via FGSI and ML was being whipsawed in both directions. We did mention that "ML is still a key level so if one side manages to sustain a move above/below ML, that […]
ST trend: neutral Yesterday we were noting that the ST trend was up, as buyers had won back ML and despite FGSI reaching extreme optimism they kept pushing higher. The RTH session was less bullish than the o/n, as buyers were not able to continue to push, but it was a gap 'n camp with […]