Wednesday, February 21, 2018 12:17:11 PM
markets often rally on fumes
Especially wave 1. so today some buyers no sellers
market strength is determined by FIB pullback.
This one did not even make it past ES FIB .20
the spx held the 9da ma WOW. That is a strong market.
The NDX and FANG stocks are even stronger.
That FEB 5 big red supply candle creates an area of congestion
Markets have to chop thru that candle and take time to get above
Additionally the market has accepted higher value and prices.
Normal place for short term traders to exit VALUE AREA HI.
That is pullback area today.
FED minutes at 2pm that would be a great place for a liquidation break.
Especially wave 1. so today some buyers no sellers
market strength is determined by FIB pullback.
This one did not even make it past ES FIB .20
the spx held the 9da ma WOW. That is a strong market.
The NDX and FANG stocks are even stronger.
That FEB 5 big red supply candle creates an area of congestion
Markets have to chop thru that candle and take time to get above
Additionally the market has accepted higher value and prices.
Normal place for short term traders to exit VALUE AREA HI.
That is pullback area today.
FED minutes at 2pm that would be a great place for a liquidation break.
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