Huge gap to upside so

    Posted by steve on 8th of May 2015 at 09:13 am

    Huge gap to upside so if watchlist stocks gap you must shift to intraday charts.  Remain prudent as ES 60 minute chart is overbought.

    I have a Dr's appt this morning so will be out for awhile. 

    yeah tick tools said -

    Posted by matt on 8th of May 2015 at 09:41 am

    yeah tick tools said - gap very very unlikely to fill, seems like a no duh. 

    the developer of tick tools

    Posted by matt on 8th of May 2015 at 09:55 am

    the developer of tick tools said this is the most emotional gap since 2009 via his statistics that gap tools measures

    meaning?

    Posted by ship on 8th of May 2015 at 10:31 am

    Matt, can you explain what that may mean? higher prices? possible gap fill? or ......

    I said it means no

    Posted by matt on 8th of May 2015 at 11:15 am

    I said it means no gap fill, today is a trend day, market will hold up, buy short term dips in futures or focus on stocks taking volume on intra day patterns, I look for intra day flags etc on 5 min charts on stocks that are taking volume

    http://www.finviz.com/screener.ashx?v=111&f=sh_curvol_o300,sh_relvol_o1.5&o=-change

    and it's also Friday after Jobs report, sometimes it's best to take the day off early and go do something more productive

    on these trend days I

    Posted by matt on 8th of May 2015 at 11:30 am

    on these trend days I don't bother trying to short unless I see a signal later in the day, typically I buy shallow pullbacks. the trend days generally all play out the same, do a blog search for past descriptions, they push in the morning, and any dip is bought, the MACD recycles back to zero, maybe you get another push in afternoon, then pullback in afternoon if divergence occurs, and if not holds up all day - so for futures trading I try to buy dips.  

    For example on tick tools you can see the white dot, remember per past discussions when that is taken out, look for it to act as support, so the pullback to it gave a day trade

    and for stock setups - I'll look at ones taking high volume such as on Finiz etc, then drill down to their 5 min charts and look for intra day flags and stuff. 

    and on Friday like I said after the jobs report, I"m not as aggressive.  Plus it's my daughters birth day today, so will be leaving early

    Trend Days

    Posted by lamb on 8th of May 2015 at 11:57 am

    always seem to start with a gap up on futures. If they hold past 10:00 it's off to the races and everyone makes money on the long side efts like SSO,QLD,or UWM nice  safe plays. Also these are the only safe days to play the mini futures

    Very sweet picture. Happy Birthday

    Posted by a_l_ on 8th of May 2015 at 11:31 am

    Very sweet picture. Happy Birthday to her.

    Very helpful! Thank you Matt Happy

    Posted by ship on 8th of May 2015 at 11:38 am

    Very helpful! Thank you Matt

    Happy BDay to sweet lil cutie!

    thx, she's getting big, 4

    Posted by matt on 8th of May 2015 at 11:41 am

    thx, she's getting big, 4 years old now, takes after me I think, drives mom nuts

    All good traits get credited

    Posted by a_l_ on 8th of May 2015 at 11:43 am

    All good traits get credited to mothers & 'issues' come from fathers (especially on Mother's Day).

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