SPDR S&P 500 (SPY)

[leftyg]

learning..Jake..anyone following Renko trends. You have noticed today, with the large intraday volatility, a red candle appear at the end of four white candles (if you are using box size of 1.5 on MVV)......that red candle has now disappeared, as the price has risen back somewhat, and the price is no longer below the value needed to fill the red box.

The message I have gleaned is..intraday moves can be watched, but ignored for position changes..it is the price level that buyers and sellers are willing to hold overnight that is important. I look at the situation late in the trading day, if I want to take a direction change..or after hours, when there is time to evaluate more fully the eod breadth indicators..and then take a new position for the opening.

What one will find, is that often the intraday moves that are large resolve closer to the opening price..and taking those intraday gyrations can be a whip. regards.