Opening Play for Wednesday 4/23

April 22, 2014

4-23-2014 6-54-30 AM

Commentary:

Good Morning traders!   DAX indeed had upside follow through and SPs followed suit for a fifth day trading low to high.

The previous two days had been good consolidation day, thogh, and we posted a chart of the summation ticks in the corner above to show how

they had reset for Tuesday’s opening.  They are now back towards the upper end of their range but can still trade higher.  The SPs may well have a

consolidation day, filling out between the lines marked on the chart above.   Bonds are on a Sell Short day, Silver had a Buy Div on the 2-period

ROC (As did Gold).  Yen also is on a compelling buy on the daily osc, but is already well up in the overnight market.

Have a great day!   Lets look for some two way trade today (BUY early flush down as bull flag will form on tick chart above, but short any retest up or lower high).

Linda

Tradesheet from snagit