The ACD Method
- Thread starter sbrowne126
- Start date
Quote from Maverick74:
1311, what now?
so a close above the point of control at 1308 is bullish to me. In short vertical moves like today are where price is trying to find a new level of acceptance, where the profile starts to fatten out. As a trend follower I like vertical moves. There are a bunch of day types as well which I won't get into
but today was mostly vertical.
So are you not hiding under your bed anymore?
Shan just reminded me that you were going to send me an e-mail about something.
Prop trading?
Like I mentioned before the Lines in the Sand have been drawn. ZB 148 handle, EUR 1.26, and ES is at a key critical area that if broken will likely lead to more upside bias. One really key point is that we have reached these levels so early in the month and if we pop we could have a good move this month.
I keep a rolling numberline of XIV and for the first time in a while we got back to the 0 line. I have found that a change from negative to positive and vice versa can lead a trend change in markets.
Also everyone seems to be doubting this bounce because there is no news behind it. Many times those moves are among the strongest moves! After looking over stuff after the close I am leading more to us breaking these levels, but again they are decision areas and we will see how they react!
Totally agree Shan. There is almost no reason for us to have moved like this. The trend has been sell the close, today we did not sell the close. The one exception to this trend was two weeks ago when we finally had that oversold bounce.
If we were going to fail, we had every chance to do so at the close today. The afternoon was bought, not sold, and here were are cracking or at least knocking on the door for June A ups. That move in bonds today was huge and unexpected in my opinion. Now that we're sitting here on the A down, I'll be watching closely tomorrow.
Still like TJX, FL, TOL, ZUMZ, DKS, and even lowly RSH here. Commence making fun of me for the RSH...