Opening Play for Tuesday 9/22


Good Morning Traders!   Expiration hangover indeed……The SP and  Russell made new  momentum lows on the 2-period ROC.

Even though the market closed with two days high to low and a pinball Buy, the SP and Russell both made new  momentum lows on the 2-period ROC.  This still leads to further downside.  The Russell closed with a 30 minute Grail sale.  The DAX has a three bar triangle breakout pattern.   If it  continues lower in the overnight session, the weekly  sell divergences that are on the SPs  and NAZ  can  kick in.   Right now the DOW is perched at a  precarious level (see chart  above).  A  close back beneath that previous 20 day high will signal a bull trap.

Tradesheet from Snagit









Markets in BO Mode:

BOs from snagit