Good Morning Traders! Welcome back from an extended Memorial Day weekend…Hope you enjoyed some R&R. I spent the weekend with friends enjoying the Northeast’s first major Regatta colorfully named: FIGAWI to kick off the official start of summer season on … Continue reading
In yesterday’s DTS Briefing we highlighted that price had reached initial 3-Day Cycle targets, and that any additional strength could carry higher into 1892.25 – 1894.50 zone. The actual high of day was 1894 even…so effectively a dead hit. Bullish … Continue reading
Mr. Market’s Three-Day Cycle Rhythm of establishing an extreme low swing followed by an up swing to an extreme high has hit on cue for several cycles now during current consolidation phase. The current swing is bullish having reached initial … Continue reading
The Title Song..”Same Old Song and Dance”..by Aerosmith comes to mind as I review recent price action this morning. Price pushes higher to key resistance…chop…chop..Buyers get their fill..and WHAM!…Algos enter and smash price lower to key support…chop…chop and the “same … Continue reading
As we have seen so often this year that every deep pullback in price into Value finds renewed Responsive Buyers. As well, when price reaches upper extremes, buyers dry up and Sellers Respond. This action simply is Range Consolidation between … Continue reading
Last week’s “Island Reversal” High and subsequent swing lower remains within the overall context of a normal retracement pattern within the larger bull uptrend. Also of key importance is that price tested and remains above the “2014 WVAP”…at 1858…Each retracement … Continue reading
This week’s auction failure on retest of April 4th high reinforces that level as resistance. Yesterday’s sharp sell-off creates an “island top” type formation at the high end of multi-day range. The recent pattern has been to push higher creating … Continue reading
Short-Term Traders had high expectations that the April 4th high would be penetrated, setting up for an potential explosive move to 1900…BUT the “Other Time-Frame” (OTF) Trader did not play ball, as “Buyers Fizzled and Prices Drizzled” lower in a … Continue reading
The S&P notched yet another 30 handle “up sequence” past few sessions with a narrow range consolidation period yesterday with a Hi-Lo Range of just 6.75 handles…That is 7.50 handles below 5 day average of 14.25. Simply, the market is … Continue reading
The S&P’s Opening Gap pushed price higher in Monday’s session, with trend-day short covering characteristics, reaching our price targets of 1891 – 93 zone. Now comes the BIG TEST of the April 4th High and a probe for “buy-stops”. Will … Continue reading