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
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
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
yeah tick tools said -
Huge gap to upside so if watchlist stocks gap you ...
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).