Rhythm and Blues

What kind of a day do you expect today?
That was a question we posed to traders pre market.
As you might expect, we all saw things a bit differently. That’s normal, and reasonable. It forces each one of us to listen to the arguments for both sides, and try to guess where support and resistance is [...]

Drive for Show, Putt for Dough

Ahh…Summertime.
Golf, Swimming, picnics, and ants.
Don’t forget jump the creek.
——————
The U.S. Open was about as forgiving to the Pros as was today’s market.
Their drives were smokin …but putts for birdies hard to come by.
———————-
Pre market, we originally thought range day today. We did not expect this rout. We thought test the 18.5 half gap was a [...]

Jam Session

Today’s Lower Low opening was the perfect trap for both longs and shorts.
Just when you thought it was safe to go back in the water, Jaws rears it’s ugly head.
—————————-
Objectively looking at the market…

Half gap and gap play worked
Friday’s middle held
Friday’s low got broken, retested, held for longs
Friday’s middle held
The umbrella started to open up
Friday’s [...]