Welcome to trading in May 2016
Closing out May and starting the June Market Analysis post.
- ES, NQ and CL are all showing early down trends this pre-market. Example ES shown here:
- Don’t forget today is Crude Inventory day.
May 11, 2016
- ES, NQ and CL are heading into today’s open in up trends.
- 5 min CL showed a long signal; will see how far it goes
- CL long scratched out at even
- First view of Breadth is decidedly down trending
- Another CL long opportunity coupled with Divergence on 5 min
- Market rocketing on CL inventory; was positioned well for the lift.
- ZB gave a short signal, passed as I was focused on CL and ES moves at numbers
- ES and NQ maintain 30 min uptrend after numbers. Great start to the day!
- Breadth is still rather flat for such an excited ES NQ up move after numbers; complete fake out
- Major trends have gotten messy into mid-day
- ES NQ changed trend direction as confirmed 10:30CST bar shown here:
- Hope you all had a great trading day. If you have a question/comment send me a message on the Contact Form
May 10, 2016
- One of those trend of Breadth days up