DAILY BOTS: 1358.5 1383.75 1403.75 FOR THE WEEK
Last evening in after hours there was a nice sell off after PA max at the 88.5 area, The three bar run then stalled and some PB targets were established for the NQ, YM, TF, and the ES. Those hit, but the big picture was the max run.
Some days it will seem the market is unstable, unreadable. It is times like that (actually good anytime) pull your chart back (reduce bar spacing) to see the bigger picture. I know people play the Rth charts, and I find no fault in that. Trade what fits your trading style. But the Rth for the US misses the bigger picture in my opinion.
I was showing trading to a newbie at the open. He understood trends but had no clue what to do at the open. Two bars down then two bars going back up, albeit b4 did close bearish, Then the big picture: the obvious was a deep retrace of the prior bull run started at the max. B5 we short and waited; PA moved for a SBBO-5
Pa for the bulls reached a +5 from the Mid Level on the daily before news began to unravel the run. Too close, PA read can be difficult. Take a step back, and see the big picture. Often it makes a noticeable difference.
Final view, PA was back to where we began the longs: 63.5 area. Holders at break even, traders very happy.
BIG PICTURE
US Market
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