You should read my morning blogs. They are technical and obfuscated with a 20-30 word vernacular [which is a long overdue reference post]. It is dense and probably not your style, but a heaping dose of morning context is essential like a daily mountain of dark leafy greens.
I go out of my way to keep the morning oil look simple. Maybe start with that one. If you’re the slightest bit involved in the energy trade, why not take 30 seconds to check out the key levels and context?
Today we printed a neutral day in the Nasdaq, hands down, my favorite market profile day-type. These days are the fascinating, ~20% occurrences. They bring added shock and flavor at or near extreme swing levels. When the second range extension is down and the higher time frame trend is up, it’s an invitation to buy your favorite momentum chart.
It is usually good for at least some order flow back to the mean on the Nasdaq, which you essentially use to lift your little momo boat a bit.
All these fun happenings, and more, have me in a gregarious mood. I suppose I will go walk through the tundra for a bit.
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You claim this neutral print is rare, but we have been getting them quite a bit. Is this a market with a strong trend and fighting?
We had a string of neutrals in a row like 10-5 days back but statistically they are a 1-5 type occurance. I love what a neutral does during a trend. You auction levels we’ll both ways–buyers and sellers having a whack at it. Each price has a solid auction leaving less “crime scenes” to revisit.