I am again still not going to post everyday but when I post, I will now split my homework in two: pre and post-market. Pre-market is the morning prior to trading with overnight news and futures. Post-market is after the trading day, mainly charts and reviews. Again, I fully understand this may not be useful to anybody else. This is basically my notebook first and foremost.
Roller coaster session today will a lot of activity and a lot of different opinions on the current situation. Everyone is trying to speculate on the markets mood: bearish or bullish. The fact that everyone opinions differ demonstrates are unclear signals are at this point. So be cautious out there.
Even short term trading gets tricky in these choppy markets. Market opens up down you end-up with a few good shorts and get squeezed out at lunch time. The reverse also applies.
Here is the trend table for today:
Only DOW charts today:
Here is a chart of interest. The lead came from Alan Farley at Hard Right Edge. A nice coiled spring setup right near the prices I like. HL is approaching the December highs again. The trend seem to be following the pattern. Jumping up a couple of points and consolidating. We could see a nice breakout right out of the current consolidation phase.