The market has been a bit wild already this morning. Nothing exciting transpired with the release of the high volatility news, but the New Home Sales (medium volatility) sent the market straight up, only to see if correct back just as quickly. At this point, I would call this a mixed trading and a range
So far this feels like a range day with mixed trading. The market opened lower with an overhead gap that was quickly filled, and now prices are just chopping around with no real direction. The bias is mostly mixed, but the early sell off and the fact prices cannot trade back above the midline of
Prices are rallying this morning, so we appear to be getting some follow through buying off of the reversal bar that formed yesterday on the daily chart. We are close to two legs up now on this mornings chart, so be careful getting long into that measured move up. Prices could reverse there and trend
Prices are trending lower at the moment. If you look to the daily chart, you will see that prices are getting into oversold territory again. That does not mean prices cannot or will not go lower, but at some point, they will bounce or rally a bit to relieve that oversold pressure, so be aware
So far this appears to be a range type day. Prices are mixed and all over the place this morning, so trade accordingly and trade wisely. It is easy to get chopped up in a sea of mixed moves when things are like this, so be picky. Maybe prices will trend again before the day
Prices opened higher at the 8:30 AM CST regular session opening this morning, leaving an overhead gap on the chart. That gap has been filled now, so we will have to see if prices reverse and turn higher or continue to push lower. This looks to be another mixed-trading, range-type, day so far, but that
Prices are selling off strongly after an early rally from the unemployment numbers. There is a two-tiered channel working lower, so stay with that until the price action shows us otherwise.
Prices started out range bound but appear to be trying to push higher this morning. I would expect that prices will attempt to trade into the upper bands on the daily chart before turning down but always follow the price action and let it show you what it wants to do rather than guessing at
Today has been mostly sideways and mixed so far. As of now, I am calling this a range day with mixed trading. That could change as the day progresses, but that is what we are looking at for now as I am posting this report. Remember to trade range rules on range days, however, if
As you might expect, prices did reverse on the oversold conditions from the daily chart. The rally has been rather large so far this morning, and there is a large overhead gap on the chart. Should prices turn down at some point and start trending lower, filling that gap could be a target. If so,