Yesterday, after synthesizing the transnational behavior stock indices and powering through the net message stocks were sending with Exodus analytical engines, I posited we were likely to start the week soft. Specifically, the first sentence of the Thesis for The Week stated:
Sellers work down into the relief rally that took hold last week.
Then, I built on that overarching context during this morning’s report, where we used the new information the Globex session afforded us to develop specific actionable levels. The Primary Hypothesis was bang on:
Heading into today my primary expectation is for buyers to work into the overnight inventory and close the gap up to 4247. Then look for a test above last Friday’s high 4253 however sellers step in ahead of overnight high 4260 and work us back down through the range to take out overnight low 4218. This sets up a move down to 4188.25 before two way trade ensues.
I bring your attention to my work not to pat myself on the back [I did not make any money trading today, I was busy] but instead to demonstrate how methodical this market is behaving. It has been that way all year.
A methodical market can be picked apart by the astute trader who consistently does their homework and then executes said work.
I have an overarching plan for this entire week, the tail end of which leaves from for some improvisation–like Chess [no wine, beer]. It can be read inside the Exodus Strategy Session.
Most of you are just sobering up after a weekend of snow-induced debauchery, but you can still gain some insight if you gather yourself. It looks like the fun is just getting started.
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BROFIST ………..
hahaha, that reminds me of AOL chat rooms. I used to be able to blast out massive dongs.