A really boring and frustrating market today. The only observation/lesson-learned I have from today is from watching TLT with QLD and the NYSE TICK.
The QLD filled the gap from this morning after 11:00a.m. If you weren't lulled to sleep before then you could have gone long at the apex of the ascending triangle (cup w.handle on shorter time frame) that formed in the first 1.5 hours with a traget of the gap-fill/previous day's high. Also up, I have a 1-min chart w.volume running of TLT (inverse relationship to QLD). Volume jumped at 12:33 this afternoon.Which coincided with this chart on a 3-min of QLD. Price tested the morning lows, rounded out before testing the highs again.
The whole time the NYSE TICK chopped between +/-400.
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at email@example.com
I am always open to questions, comments, or suggestions on how to improve this blog.