Opening Play for Tuesday 9/16

Good Morning Traders!

Pinball Sells on  JY, AD   CD  GC….markets winding down in front of the start of 2 day FOMC.  Dollar index forming a  bullish formation.

Some of the market indicators are starting to approach oversold readings (see blog post).  Heavy selling in small caps pulls ticks and breadth indicators down.

The first 30 minute bar in the Russell tends to be the largest of the day and Monday was no exception as Fund selling hit like a ton of bricks.  The Dow and SPs managed to hold together, though, in a stellar display of rotation.   markets shrugged off selling in biotech and social media in favor of buying in oils and financials. There were still shares making all time new highs.   The intraday cross currents made for a tough read and a tough trade as there was little conformation in either direction.  Does not matter though, as the SPs had an NR7 – very marginal trading opportunity.

Once again, though crude trended UP off the pit session opening for a repeat.  Crude and nat gas have been good traders lately – watch the pit opening and the 1 – 1:30 CST bar.

Triples expiration this Friday..   🙂





9-15-2014 11-33-08 PM

Tradesheet from Snagit









Markets in BO Mode:

BOs from snagit