Flexing Muscles
What happens when they try to take a market down and it won’t budge, or just
moves down a little bit? Chances are, it is likely to go higher.
11:37:44
Intraday Setup Alert
The e-mini S&P futures (ESZ2)
are now threatening to break out of a triangle at the intraday high. The
contract is up 15.00 to 792.75.
The first move out of the triangle, however, is to the downside,
but the stock almost immediately reverses and holds on. This is telling.
When the contract moves above the slanted triple top, it makes a
nice run of nearly 10 points to the upside.
Look at issues throughout the day and commit this type of action
to your thought process as you assess market action. When a market shows good
relative strength in the face of a possible sell off, it is talking to you.
Until tomorrow,