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Inside Days are rare - so would normally be expecting a pop above 33 by the Close. But with that larger supply zone looming above us it's not crystal clear...

Failed to breakout once again of that supply zone I posted yesterday (I think). I think we'll see one more attempt at the highs, but I'm not so sure we'll be breaking out today.

To be clear, the condition I checked for: 6 in a row where both: a) Net change was negative b) Close below Open (which gives the red candle) was negative Also, I use the RTH session template for this as what I'm really looking at for daily charts is the SPX. If you get 19 instances, I have...

As in the bottom or a short term bottom? I'd love to hear why you think we'll have a long term bottom soon considering that the FED stopped juicing the markets. Probably because we just completed the longest and largest bull market in history. People are conditioned to BTFD. Even the bears... :)

LOL. You’re really paying attention. Cute.

Wasn’t related to that.

Both red and a negative net change as well? I checked for both conditions.

Not sure what you're looking at, but I'm pretty sure both I and @mervyn are referring to the daily chart.

Yes. A candle can be red and have a positive net change. What he have now is 6 negative closes, both down on the open and a negative net change. That's happened only 7 times (today included) since 2008. I wonder what happened the next day following such a pattern... :)

Supply and demand. A long from here with a mid range target doesn't seem like the worst idea:

The yawning bear continues... :) Headed lower in a slow pace, although one have to admit that today's drop was kind of fast and clean now that I'm back online to check my charts. Interesting how well the year lows held up on this first test. I have a hunch we'll see them again soon enough.

I was very bullish, too, but that FBO of yesterday's HOD made me cautious. Sorry to hear that. Been there, done that. If there's one thing I'm doing right this time it's that I take my losses and keep them fairly small. I've had a few wide stop trades turn around in my favor in the past, but...

:mad: That sucks, but it's just another trade...next. On that subject - revenge trading or the irrational desire to make back a loss quickly is something which still messes with me. It certainly is quite a headgame this trading business. I imagine it will only stop being so when you're so...

What happened to your prior short from the overnight session? I was just waiting for you to pop out and post a good profit on that one.

Seems to be finding a bid there at the June low. Still watching from my phone. Double bottoms work once in a while, right? :rolleyes:

How so? By tough, I can only assume that you mean that it can often feel like there's always a bid in this market. Meaning - you need to be nimble when shorting and take those profits. I didn't trade in 2008 / 2000, so I have no idea what that was like.

Interesting reversal. Just watching this from my phone. June lows in play then?

One of the biases you can use intraday is that there's a high chance we'll take out either the prior day high or low. Those who say the market are random and unpredictable can't deny that we just reversed + 2,50 points above yesterday's high. Clearly a non-random reversal point and easily...

Got my pop and trailed out for +9,50 points at 3717. Grr... :mad: For my entry, I was simply trailing a buy stop above market as I was trying to time the breakout of the pullback. I like this method when I feel confident we're headed higher. I've had a few big winners revert back to zero or...

I never said I look at RTH only. But my main methodology is based on the RTH session which still is "king" as that's when SPX "trades" and most volume is traded. The levels printed in the RTH session are important and if one tracks ETH only those may be missed unless one have other ways to...