Good Morning Traders~! Must have been a nice weekend out in the Hamptons as it was one of the
lightest volume days of the past month. Thus the markets stayed in a contained range and now there are many markets
in breakout mode as shown on the chart at the bottom.
Easy to see on the chart of the russell how it has wound down to a nice equilibrium point on the 30 minute chart. And the Sps
are contained between two gap areas.
Of particular interest: bonds have a double dop on the intraday charts – ten years did not confirm Monday’s upside push.
A close below Monday’s lows would be the trigger for downside liquidation.
Sugar closed with a pinball sell and also a closed back above the daily 5 SMA. A test around Monday’s high would set up a shorting opportunity.
Don’t forget – AAPL earnings out after the close. Also, if you follow HLF, Ackmann is supposed to deliver his “deathblow” to the stock on Tuesday.
Need a big increase in volume to push SOs outside of this trading range. Finding good trade location in the middle of a range is a tough one….
Markets in BO Mode: