AB - lone star

After close analysis:

This was like Jan. 14, 2005 just before MLK weekend where there was huge volume and futs were held down. That's what exactly happened today, futs were held down. This usually translates to more upside going forward. Range chart ready to bo to the upside (sloping base pattern). Could it be that futs are used as hedging long stocks?? Sounds logical (when was last time that happened? :P). Couple of nice bo setups: 2bo earlier then followed by 6bo reaching its target and more.

Observation(s) of the day: NQ didn't bo and that's what kept market and AB at bay. Also the futs/vold decoupling (fancy words). Interesting 1bar reversal pattern off emas, will backtest further but looks promising.

Market breadth flipped to the upside today with a lot of conviction. VOLD recorded a hi of 973 while Add and Addq were 'decked' (inside joke hehehe) to the upside all day. All crossed emas.

Futures were mixed. AB certainly was the star of the show and bo-ed while NQ and ES didn't do much except hovering above their emas.

Indices especially SOX & SMH retraced their upmove and didn't bo to the upside out of their respective patterns but still held above their emas. This confirmed the chop for the day.

Overall positive day!

Faked bias on a 'U' day

After close analysis:

Yesterday, after looking at the "range" chart I became convinced that we're due for a bo to the upside. The "sloping pattern" is a basing pattern that resolves to the upside. Well, so much for the long bias I had this morning: market went lower until a very late day bo to the upside. Nice fake!! Went long early on but minimized the loss quickly. Nice 6b0 on AB which reached target and more, then another one to the upside later in the day. This was a 'U' day as my gurl likes to call it. Upside bo is still intact especially with SOX/SMH retracing to and holding above ema... will wait to see on Monday.

Thought(s) of the day: ghosts in vegas (boo)... got confused with all the woodie lingo.. moving on hehehe... Those market alerts are really nice! 1-bar reversal off emas, will share with room next week.

Market breadth flipped to -ve with all 3 emas Vold 'drifted lower' while the other 2 just maintained a flat line. And that of course made the market choppy for the most part. Vold closed @ -338 which isn't too bad for a down day.

Futures spent most of the day below their emas until late in the day when they reversed. AB was the only fut ("fut" hehehe) that broke down and gave a nice 6b0. It also reversed course with another 6bo late in the day but it's Friday so that was ignored. NQ and ES basically were the same as AB.

Indices were -ve except SOX/SMH: they both retraced to emas, held, and reversed to the upside! This is 3rd day for both >ema. Good sign for upmarket.

Overall positive day!

"N" days are fun days :P

After close analysis:

Looks like market is ready to go up. C&H pattern on AB signaling more upside and also there's a sloping basing pattern developing on "range" chart. Nice 6bo on AB with auto-target reached. Looks like dow wants to go down another leg before resuming upward.

Observation(s) of day: RR pattern on Addq with a lower opening then retracing to bottom of yesterday's bo range. AB likes those 2 emas I guess (thanks gurl for pointing that out).

Market breadth had an "N" pattern today on all 3. Choppy with emas curling but with a long bias so far.

Futures had an "N" day, seesaw on emas (sheesh!). AB found support on lower ema and reversed to upside. There was a nice 6bo to the downside with profit target hit followed by a 2bo off the ema. NQ and ES had same price action with lower consolidations just below emas.

Indices except dow were strong! SMH & SOX really continued their run from yesterday and are holding solid above their emas.

Overall positive day!

Rosie and dbq's MM

After close analysis:

Today was very interesting trading and chatting wise. Rosie is back in room after a long vacation: haven't seen that girl in months wow! Dave shared some interesting thoughts on MM concepts. Basically, it's building positions in direction of trade vs. scaling out! Omg, this is another level altogether. Hmm, looks like 6bo setups are good candidates for that, but will need to do some papering so I'm psychologically ready (no psycho thoughts pls. hehe).

Nice couple of 6bos for the day.

Market breadth turned +ve in the afternoon after consolidating in a tight range all morning. Looking at VOLD, ADD, and Addq they certainly broke out to the upside later in the day. Interestingly add and addq opened a tad lower than yesterday but retraced to bo range and found support before bo-ing to upside.

Futures were mixed: DOW and ES didn't bo but chopped, unlike NQ and AB as they both had nice clean bo. Interestingly all were above their emas while AB sure did rest on its ema as a launch pad before the upmove.

Indices were overall +ve but the standouts were SOX & SMH as they both gapped up at open and bo-ed above their emas after finding support their mid-day. This is a healthy sign and bodes well for more upmove since the beginning of the year.

Overall positive day!

Dragon?!

After close analysis:

Didn't trade today - tired and needed to rest up. Looks like I was lucky since nothing much happened today.

Market breadth drifted or bled to the downside all day after opening higher than yesterday's range. Although Vold, Add, Addq closed on the lows they held above zero line.

Futures followed market breadth and were hovering around emas for the most part. Breakdown came around 2:30pm bar. NQ held above ema till it broke down later, while AB broke down below ema in the morning and stayed there consolidating for rest of session forming what looks to be a dragon pattern. NQ's strength might be an indication of an upmove later in the week. AB range 9 pts.

Indices were a little stronger than futs, and as Haggerty said the internals didn't mirror indices. Nice observation! Dow hovered around its ema for most of the day after posting a strong open ot the upside. SMH & SOX weren't too hot either!

Overall neutral day!

Sleeping beauty!

After close analysis:

Didn't trade in the afternoon, was tired. Nice 6b0 setup in afternoon.

Market breadth was -ve. Vold, Add, Addq were in a tight range till 2:30 when they broke down. Should be noted that Add and Addq opened at the low of previous session and all internals were still in a -ve xover from last session. Vold closed at low @ -595.

Futures followed market breadth. AB, NQ & ES were below ema, with a minor retracement around 2pm. AB had 1 6bo setup @2:30 with mfe of 25tix and 2bo continuation of 12tix. Total range for AB 11.5pts.

Indices Dow, SOX, SMH all stayed below ema.

Overall neutral day!

Another down day for the market!

After close analysis:

Was out all day so didn't trade. Overall this week has been very positive with no losing days. Volatility on AB certainly helped.

Market breadth was positive early in the day and then bo the downside in the afternoon. Interestingly, VOLD, ADD, and ADDQ all opened higher than previous day's levels and closed with higher lows. Monday should signal whether this might mean a reversal of some sort to the upside. VOLD low -469.

Futures were cnsld below emas in the morning. Except AB, which had a mini-rally above its ema and stayed on top of it till it broke down in the afternoon. AB held previous day's levels for most of the day. 6bar bo setup and it gave around 28ticks. NQ, ES consolidated for most of the morning then bo with AB.

Indices were -ve as well. DOW had a consolidation pattern combined with yesterday's close which boed later in the day with futs.

Overall neutral day!

It's an 'M' day

After close analysis:

Wow, what a day! This was a tough day overall. I took an early morning scalp to the downside. There's a rule I have which is don't trade a breach of important levels in the morning. And surely, it was a bear trap and market (AB) reversed course to the upside and held for a while. The other 'airhead' trade was a long one around 12:30pmEST and that was in anticipation of a reversal to the upside. The long was reversed quickly to the downside on a 3min cnsld break and it worked out very well, except for ensign freezing and trade was re-entered. The last good trade that I didn't follow through with no reason was around 3:45pm which was a short: it worked but not much on it. Mostly shorts were taken, except for 1 long (definitely broke a rule here).

Market breadth was mixed but to the downside for the day. Vold kept trending downward with occassional pullbacks. Add and addq opened to the downside: Add opened lower than previous day but pulled back up albeit at depressed levels. Addq same as add but didn't exceed previous day's range.

Futures drifted downward with AB appearing to be stronger for the day, as it formed an M pattern. NQ & ES were below ema, which acted as resistance all day.

Indices were in sync except for AB as it appeared stronger early in the day. NQ, ES and dow all broke to the downside after a multi-day cnsld. Dow broke multi-day channel to the downside. All indices <50day style="color: rgb(255, 0, 0);">Overall positive day!

This close was fugly!

After close analysis:

Market breadth was -ve all day: vold trending down and below yesterday's action, $add was tight but -ve, $addq was -ve and below yesterday's action
Futures opened at same level as yesterday: they were held up, so they weren't in sync with market.
Indices were all trading below 30min emas for all day, except ab was holding around it.
Finally around 3:15est futs after retracing against emas brokeout to the downside till close.
Dow couldn't get past multi-day upper channel @10640 area. It looks like with poor close, there's more downside to follow tomorrow, especially with everything having a -ve Xover.

Only shorts were taken today based on the above analysis and that was good.
Didn't hold the last short trade long enough. Nice day though.

Overall positive day!

TD to the upside!

After close analysis:

Market breadth Vold was trending up all day, add and addq although trended up but their upper limit held up at previous day's level. addq opened lower than yesterday's levels. All closed with +ve ADstudy.
Futures futs rallied as well to the upside!
Indices all were above emas

Good analysis of the day, and traded from the long side!

Overall positive day!

Dull but for a Friday.... !

After close analysis:

Market breadth was +ve: vold trended upwards all day closing @ 583.00, add and addq trended higher.
Futures were subdued compared to market breadth but crossed 30m emas and stayed above them. I'm speculating that some were speculating and hedged with futures and went long stocks. This might translate to more upside next week.
Indices were all up with AB holding just above 30m ema. 6bar b/o didn't work on the short side and was a fake. On the long side the 6bar b/o worked at end of day.

This was a dull day till the final hour when things picked up on the long side. I traded the long side for the most part, but more trades than I normally do on a Friday. Markets are closed on Monday (MLK). Market closed up for the afternoon which is a bullish sign considering it's a Friday and market been correcting since beginning of year.

Overall positive day!

Bootiful day..... can it get any better?

After close analysis:

This was the best day I had so far trading AB!

Market breadth
Futures
Indices

Overall positive day!