Tomorrow's Chart Today-Part 2

Love those reports, great volatility. When those occur you can cover your position and if they take it the opposite direction of your last turning point you can attempt to in this case sell it. I believe these reports for the most parts are pretty much meaningless and just add volatility. You always have to protect yourself in these markets because we
all know anything can happen.
 
They waited until the 835 Price High was broken and then some were willing to step
in and sell it. Very high risk trade and the trend traders will be in there finding every
reason to buy it. We'll see how it plays out. On the weekly data this was indicated to
be a High in the market (7 8 16) as was June 24th a weekly low.
 
After all the fanfare they sold it in the direction of the last turning point at 0730. 0930 is difficult to determine on the polynomial of the Q Valley and Sym Peak. You are likely to have an outlier in both cases because they are not overlapping a previous price range. This may give the trend traders the opportunity to buy it, as it could be a reversal. If they do and take it to new highs then 1000 will likely be an outlier on the Q Peaks.
 
1000 Q Peaks outlier and likely 1030 Sym Valley Outlier. Nothing after that for some time.
When they are back to back like 1000 and 1030 are wait until the last one is completed.
 
The reason why I mention Bollinger Bands and the 3x2 is because they are used
by the general public and give you a way to manage your risk. Also they are effective in giving you a low risk entry. They also show support and resistance levels, trending markets, etc. The buy hit a 5 point target easily, you would be out of the market for the day or you can sell 1030 and go for another 5. Once I get 5 I'm done.
 
Here was the problem with 1030, the selling took place inside of the 1030 30 Minute
bar, it did not finish strong on it's price highs and when you see that you usually have
a continuance. Just look at how the 5 minute bars played out inside of the 30 Minute
1030 time frame. This happens often during strong trends or on a strong trending day,
and you must be able to recognize it.
 
1500 may be the only selling opportunity today, and it is the last outlier. If it takes hold
then you may capture 5 points down.
 
You shouldn't take a loss if this trade was made...you know the market makers and trend traders are going to buy it the first opportunity they get, so they used the bottom 5 Minute Bollinger Band. Sometimes taking 3 points in these scenarios is best or put a break even stop in and let it ride until the close.
 
With the exception of 1030, which was a continuance, all of the other outliers worked and reversed the market today. Check for yourself, including the night session. Enjoy your weekend.
 
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