Break: day 4 (TD)

After close analysis:

Still on break but watched market for a while (why?). Yesterday's analysis pointed to a break and a move and that's what market got today. This was a TD with 1b-r & 2/6bo reaching auto on AB. The H&S on smh and sox was breached to downside. I should note again that such multi-day patterns when they bo in morning it's usually a trap (let the children play haha) and that's what exactly happened. The charts flipped to bearish so should be expecting a down day as a follow thru. Dow 10630-50 is major support area. What else? Yea, gurl had nice gann tart on es 3min, amazing how it works! Also nice webtite (hehe) for euro futs (works on IE and not firefox!).

Thought(s) of the day: Dow dbl top is a concern since the move up was fast. I prefer revisiting older levels at a slow pace with plenty of cnsld which gives it more fire power (these V moves just scare me...boo). The other thing is the divergence (oh no, not that word!... well, at least it isn't 'hidden' :P) between Naz and rest of market. Others have pointed out that market won't rally unless Naz participates. It's been weak lately.

Market breadth behaved as expected: after taking out yesterday's low it retraced in afternoon to bottom of range then continued lower. Vold low @660 with Add & Addq having -ve xovers.

Futures were bearish since open with AB, ES, and NQ staying below emas. There was a classic retrace in afternoon to ema setting up 1b-r. All charts including es 200R turned bearish.

Indices especially Smh & Sox gave early warning on what day was gonna look like. Trap in morning after breaking multi-day neckline (ouch...needs a brace!) retraced and broke down earlier than market. All below emas.

Overall neutral day!