4:01pm
the day is over. today is the MDD. if you do not know what is a MDD, check this post below.
Commodity looks toppy and transport is leading the down. Financials are weak and our BAC shorts are working well now.
3:22pm
50ema finally touched. Some readers may know that i like to enter positions on 50ema rather than 20ema. it’s like in a boxing game, when opponent is fully extended, it is the best time to send out your punch…
3:11pm
The only question remains is if we have a sharp rebound in last 30 minutes. i see some people are still expecting that happen. usually in trend day, it close at LOD.
1:58pm
this is the most bearish case…
1:48pm
For those not familiar with what a major distribution day (MDD) is, here is the chart. when $NYDNV:$NYUPV > 9, people call it a MDD. Now the reading is 17, so if we close now, it’s a MDD. There are many “rules” about MDD, we can talk about it later…
1:45pm
range bound scenario plays out. Bears completely in control so far. let’s see if we have a major distribution day here.
1:00pm
1st resistance @ 20ema. i think bulls should break higher from here to the 93 zone.
12:54pm
Another intraday scenario is that we are having a range bound here. This is a very bearish sign since no real rebound and we can still test 20/50ema resistance.
It’s need to be noted that this is only intraday discussion. my midterm view never changed…
12:39pm
1st target reached. next 2 hours will be good for bears.
12:14pm
my thoughts for today.
12:07pm
another H&S pattern for EUR/USD. target 1.3
11:59am
bulls, don’t expect the gap today get filled soon. sell next rebound and get exit.
11:55am
11:35am
potential trend day. short at every rebound to the key resistance line. period.
12:56am
Futures are off 5 points now and dollars are strong. Tomorrow could be the day for bears.
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