We had a Zig-Zag day....
1 Year Overview ES
- (Short) Predominate selling bars on the Volume Chart
- (Short) Below SMA 20, 80 & 150
- (Short) Price waaay above SMA 200
- (Short) DX- dominate
- (Short) Declining OBV
- (Long) Riding a Major trend line
- (Long) At the Bottom of a 1 year HVA edge
- (Sideways) Strong LVAs at 2025 & 2050
- (Soon) Price and apex of wedge
- Summary: Continued intraday day trading
1 Year NQ
- (Short) - Finishing a buying cycle on the dip (we are at the apex, see prior apex)
- (Short) Near All Time Highs
- (Short) Weak trading volume when in shite space
- (Long) Riding SMA 20 & 50
- (Short( SMA 80, 150 & 200 are below
- (Sideways) Pronounced OVAs at 4755 & 4885
- (Long) - Major Trend direction
- Summary: Continue intraday day trading
90 Day Overview
- (long) NQ OBV is show buying increased buying
- (consolidation) NQ is trading within HVA boundaries
- (Consolidation) ES showing SMA coiling
- (short) ES OBV is showing liquidation.
- (consolidation) ES ADX is stuck
- ES closed at the Centroid.
- ES Ventures into the two LVAs above complete
- ES Price Today has ZigZagged
- No gaps Outstanding
- Summary: With zigzag complete, expect move out?
NQ - Price completed closing the gap
Price has conducted a zigzag pattern
Summary: Expect price to remain inside HVA
ES - Triple Distribution today
- Lots of large lot selling in ES
- Lots of large lot buying in NQ
PRIOR DAY TRADE REVIEW:
Worked on magazine today. No trading….
0945 NQ Reversal Long
1100 ES London close RTM and oil news)
1310 ES Treasuries close breakout short
1330 ES & NQ RTM (w/ HVA)
Summary: to maintain three day trend, look short or within same area
I believe the operator for the last 3 week is where we are at, went lower, higher and now back.