Day one of week # 132,567, we had a very slow tape until we saw a little salsa on our screens. But we know the drill by now... it's like they see a bunch of prisoners on a breakout and the warden fires off the alarms, and back they drag us to the VWAP. (Yes, I've watched far too many 1950's B movies) That's okay, we're hitting them from both angles, both long and short. Who do they think they're playing with here, anyway? Amateurs? Oh... nevermind.So a quick look at the points of recognition, implosion, explosion or confusion.. take your pick. All I know is it's been "ions" since we've had a decent sell-off, and today was really just more of the same. As Fuji regularly warns us, we're still in bear trap country until further notice, so in order for us to not just buy the shirt, but wear it, we need to be careful. I think most of the traders who frequent this blog know the drill already. The screaming mimis on the tee vee are really pushing for Dow 10K, and we're only 114.20 away on an OPEX week, so we need to keep our game faces on. If/when we make that approach, it's probably a very good idea to dial down to a 5/10 min bar and watch the volume in that zone at that time interval. Meanwhile, Joe has generously allowed me to share his charts tonight. Joe is "thee" most generous trader I've ever had the pleasure of knowing btw- so enjoy being spoiled rotten.
DIA
SPX
UUP
Joe's piece d'resistance- the Trannies
Finally, Douala sent me this video earlier- if this doesn't remind you of this tape for the last 7+ months, I don't know what will. See you all tomorrow, have a great night... and thanks for everyone's help today- very good trading synergy! ~Keirsten
