must be a Monday in the summer.
Just my opinion...
Market has had two tight range days, CASH SPX put in an NR14 on Friday,
this kind of a condition often leads to a big move, but 75 is 50% of last month's RTH range and 75 was last week's High print
Prints with 76 handle meant (to me) that shorts are covering,
First Price moves above a level like 75 can ultimately succumb to hesitation, then a retrace to establish whether there are additional buyers below before a valid break to upside can unfold.
PA
PAUL9
Rep: 14,898
Posts: 1,170
Bruce,
check your calendar, summer isn't over yet, you dated your topic September.
must be a Monday in the summer.
dt, kill my topic (but I guess you'd have to change Bruice's date)
Market has had two tight range days, CASH SPX put in an NR14 on Friday,
this kind of a condition often leads to a big move, but 75 is 50% of last month's RTH range and 75 was last week's High print
Prints with 76 handle meant (to me) that shorts are covering,
First Price moves above a level like 75 can ultimately succumb to hesitation, then a retrace to establish whether there are additional buyers below before a valid break to upside can unfold. (retrace might not happen until O/N)
check your calendar, summer isn't over yet, you dated your topic September.
must be a Monday in the summer.
dt, kill my topic (but I guess you'd have to change Bruice's date)
Market has had two tight range days, CASH SPX put in an NR14 on Friday,
this kind of a condition often leads to a big move, but 75 is 50% of last month's RTH range and 75 was last week's High print
Prints with 76 handle meant (to me) that shorts are covering,
First Price moves above a level like 75 can ultimately succumb to hesitation, then a retrace to establish whether there are additional buyers below before a valid break to upside can unfold. (retrace might not happen until O/N)
BR
BruceM
Rep: 216,211
Posts: 19,895
they're tryingto suckin longs early today..especially if they make new highs now...
PA
PAUL9
Rep: 14,898
Posts: 1,170
huh boy,
rare for me, will post trade.
last week I explained how I am willing to B/S breakoout of first 15min range on day following NR7 or IDNR4, targeting .618 extension of first 15m
entry 75.00 (i tick above H of first 15min RTH)
stop loss 73.75 (50% of 3rd bar's range)
target print of 77.75 (one tick shy of .618 extension of opening 15 minute range which technically I have .618 extension as 1077.99)
rare for me, will post trade.
last week I explained how I am willing to B/S breakoout of first 15min range on day following NR7 or IDNR4, targeting .618 extension of first 15m
entry 75.00 (i tick above H of first 15min RTH)
stop loss 73.75 (50% of 3rd bar's range)
target print of 77.75 (one tick shy of .618 extension of opening 15 minute range which technically I have .618 extension as 1077.99)