- The MKT has a slight negative bias in a difficult "choppy" trade. On the SELL side DP BREAKOUT strategies are valid but should expect a laborious trade. UP and UT1 FADE and REVERSAL strategies are recommended but profit should be taken at initial targets. The probability is to the downside today but is not a day to press it.
- On the BUY side avoid UP BREAKOUT strategies but rather FADE a negative reaction after a positive breakout signal at the DIR. DP REVERSAL strategies are recommended over FADE strategies as "sloppy" trading conditions are expected. Any DP FADE trades should get confirmation before executing. Position management adjustments should be anticipated for all longs as sideways trading conditions can quickly erase profits.
Today's PRICE MAP Performance for W
Wrap Up
An MC Value of -2 signaled a NEUTRAL DIGESTION market with a slight negative bias. With the R Level at the DIR, the market is "on the fence" and has the potential to be the start of a directional move. The market opened up above the R Level signaling that a sell-off to the DIR was an opportunity to get long the market from the optimal entry point (R). Since the market was in a NON-TREND state, traders should utilize the momentum oscillator tactics for a "tell" on the market. The oversold reading in the RSI hinted that the market was finding support at the R and highlighted the BUY R FADE opportunity. The market respected our key inflection pivot and rallied to the upper end of our Critical Range where profits could have been taken.
An MC Value of -2 signaled a NEUTRAL DIGESTION market with a slight negative bias. With the R Level at the DIR, the market is "on the fence" and has the potential to be the start of a directional move. The market opened up above the R Level signaling that a sell-off to the DIR was an opportunity to get long the market from the optimal entry point (R). Since the market was in a NON-TREND state, traders should utilize the momentum oscillator tactics for a "tell" on the market. The oversold reading in the RSI hinted that the market was finding support at the R and highlighted the BUY R FADE opportunity. The market respected our key inflection pivot and rallied to the upper end of our Critical Range where profits could have been taken.
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