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!