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MR
mreiserer
Rep: 110
Posts: 2,220
I am having Internet connection trouble since the morning so I will probably not be posting much more today.
It should bounce here, but I suspect this may go down to the 900 area today once a couple more hurdles are cleared.

MR
mreiserer
Rep: 110
Posts: 2,220
TIC was absolutely dismal today
JI
jimkane
Rep: 3,058
Posts: 33,089
I just don't see it not running hard now until the close...
MR
mreiserer
Rep: 110
Posts: 2,220
Well, it played out like I thought it would so far.
MR
mreiserer
Rep: 110
Posts: 2,220
last spot for the shorts coming up right here
MR
mreiserer
Rep: 110
Posts: 2,220
let's see if that TL and ABCD on tick breaks
JI
jimkane
Rep: 3,058
Posts: 33,089
The bottom line for me was the plays were in the AM, that 4PT, the pullback after that, and the ABCD at 10:53-54, and that was it. It's typical after such a big drop once it hits about 11:00 Eastern or so to just range trade. Great for scalpers, but I'm usually done at that point. Today followed the pattern to a T. Unless the LOD is a primo higher timeframe setup, I'm usually done after that first hour and a half. If they explode it up I can look for a setup, in the unlikely event that they give one, but the risk is usually too high for me, based on the unlikelihood of good enough follow through. And as I frequently say, I don't try to guess my way out of a range.
MR
mreiserer
Rep: 110
Posts: 2,220
well, one thing's for sure the markets got rattled a bit today. Maybe a sign of things to come, but they may try to drag it out as long as they can maybe to the fall
JI
jimkane
Rep: 3,058
Posts: 33,089
Yep. Just as I suspected. But the buyers are still there, defending this level very vigorously. We need a nice test of that range from below, preferably with an ABCD.
RO
roofer
Rep: 3,689
Posts: 3,574
well .. you all know what i think.. the line sorts fib, the fib sorts line, their coming together sorts the importance of price at existing frequency and gives target and establishes an alternative frequency...price was coiling at lower line...

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