Tuesday, March 28, 2017

M17 Bottom & Brick Walls


- Breather before resumption of the NCAA March Madness

- Busy working on my column


Summary
  • Equities “appear” to have put in an M17 low
  • Longer time frame traders appeared today providing range extension (long) in equities
  • Equities are out of formation for a unified move (watch for fragmented moves)
  • Gold & Oil reacting off structural S/R failing to penetrate further

Ruling Reason

  • Assume continued consolidation (intraday & initial balance development trading)
  • Watch for natural b/os