A narrow-range consolidation day. After such a strong trending move the day before, I was watching the last hour's high and low from Thursday as possible support/resistance. Being that we gaped down, I was looking for a move back to the last hour's low. We got such a move off of a momentum buy divergence and as the slow line in the 3/10 macd was crossing the zero-line I was looking for a
"First Cross" Buy entry (highlighted with the ellipse).
We ended up basing around that previous day's Last Hour's Low (also Highs of the day), before breaking to the upside, where we closed on the highs of the day/week. On this faster time frame we can see how price continues to test this level as it acts as resistance before claiming support (RbS). Notice the TICK divergences between the 1st and 2nd attempt compared to the 2nd and 3rd attempt.
So, we finish the week with strength, but also building divergence (weakening momentum). If we make a push towards S&P1000 next week, especially if it's on momentum that's even weaker yet, we may see some retracement follow.
We've built value on this entire climb up (represented by these narrow-range "fat"-bodies).
We ended up basing around that previous day's Last Hour's Low (also Highs of the day), before breaking to the upside, where we closed on the highs of the day/week. On this faster time frame we can see how price continues to test this level as it acts as resistance before claiming support (RbS). Notice the TICK divergences between the 1st and 2nd attempt compared to the 2nd and 3rd attempt.
So, we finish the week with strength, but also building divergence (weakening momentum). If we make a push towards S&P1000 next week, especially if it's on momentum that's even weaker yet, we may see some retracement follow.
We've built value on this entire climb up (represented by these narrow-range "fat"-bodies). 
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