Thursday, October 27, 2016

More Earnings Reported, Price Stays in Accepted Ranges

2016-10-27

MP Action
  • ES continued stair stepping lower
  • Enters a Buying tail at LOD matching Friday’s LOD
  • Next lower targets would be Z16 Rollover boundaries (Contract Low)
  • Anticipating (1) Final testing low and reverse long (2) Test Contract Low,








  • NQ matched yesterday’s HOD and marched to PIC (w/in defined HVA)
  • NQ broke below defined HVA down to next lower HVP (w/ Buying Tail at end of day)
  • NQ has reentered last weeks range


Price Action:
  • Great respect for defined HVA’s and visual chart features
  • MO matches that of recent  short term traders and long term traders









  • VOLUME ACTION
  • Large lot liquidation at session open,
  • accumulation mid day,
  • large lot liquidation at end of day
  • - More selling at end of day than beginning of day (selling spike???)





PRIOR DAY TRADE REVIEW:
  • Lots of movement but slow (the new order?)
0620 Price markup to prior day HOD
0900 Liquidation begins (gap close, inventory adjustment)
1000 ES & NQ RTM
1030 ES HVA reversal long (CT)
1215 HVA Reversal short
14:30 ES/NQ  SMA Cross, RTM confirmation & Yesterday’s LOD range extension (trend rules from here)
1510 NQ Slow Mo after range extension.
1541 ES & NQ SloMo (off HVA Edge)




END OF DAY CARRYOVER SUMMARY:   

  • End of day selling heavier than morning selling.
  • Expect residual sell orders next morning
  • Price, if accepted into last weeks range, requires lo0king back into next week
  • Typical cycle suggests long tomorrow, (earnings reports)
  • Amazon failed