Wed 11_13

We've been waiting for the 3/10macd fast line and slow line to catch up with one another again, which will probably take place on tomorrow's open.  By that time, the move is stretched and one would be buying late into that time frame.  So, we need a way to anticipate this potential move by clueing off of a faster time frame.
Here is the Daily (left) 1H (middle) and 15-min time frames

Momentum is in progress, and the only thing to look out for would be lack of follow-through once the first round of selling has occurred.  It is Options Expiration week and anything can happen.

Just looking at the higher time frames things are still pretty bullish.
This Daily chart has two macd indicators.  The bottom is the standard 3/10-macd that reflects the Daily time frame; the one above it is a macd that reflects a time frame three times slower (closely mimics the weekly 3/10 macd).
Included are potential entry considerations for the daily time frame.  The highlighted regions are indicating like occurrences, in this case, where the fast line was less than the slow line once the fast line turned back up to positive from negative .  So the most recent long "triggers" have taken place, but since the fast line is less than the slow line I would look to exit on the daily fast line ticking back down, the way it did in August.

Mon 06_10

Nothing but consolidation of previous momentum

Breadth - mostly neutral all day

Higher time frames - Further pullback wouldn't be surprising, while a gap or move higher could lead to chasing (and stops being triggered)

ES with globex

Fri 06_07

Momentum day, though didn't have the same sort of Advance/Decline internals you typically see on an extreme advancing day.

Higher time frame - bulls need it to push through that $165 - $165.50 area

ES with globex - overnight range midpoint (also 50% retrace of previous day's close to today's Open) held on the opening retrace, Overnight high held as afternoon support.

Another look on multiple time frames

Wed 5_15

Underestimated the strength in the late morning extension.  Didn't take the short.  Some quick scalps in the last hour.

Breadth -

Vol Profile - yesterday's VPOC held and that's all we seemed to need

ES with globex

Tue. 05_14

Open Drive opening type (vertical dash lines represent every 5-minute interval)

You have to be ready for it, entry was on the close of the first 5-minute bar.  If wrong where would your stop be?  The low of that first 5-minute bar?  If that's the case your max loss would be approximately 3 E-mini points ($0.30 on the SPY).
 Hindsight - I left a bit on the table, should have waited for the 5-min 3/10macd to take profits.
If you miss the earlier entry on an Opening Drive day oftentimes you can look to buy the first 5-minute Red bar, or a bar confirming that red bar.

Based on the hourly time frame my target was approximately $1.  The trigger set up into the close and there was a decent technical pattern to measure (cup & handle)

Breadth two hours in

Mon 05_13

Breadth

Vol profile comming into today

Higher time frame- potential long entry provided we break out (again) and get the fast/slow line crossover on the faster time frame's 3/10macd

ES with globex - a bit choppy on some of those entry triggers

Thu 05_09

Didn't take any trades until the afternoon period
 
Breadth -

Volume profile coming into today.  Bounces this week have come before or beyond VPOC or LVN areas

Higher time frame- Daily 3/10macd fast line starting to curve lower, 65min could be setting up for a steeper pullback, but you have to be prepared for an uptick in that 65min fast line

ES with globex

Wed 05_08

Breadth - zero-line bounce on the Adv/Decl

Volume profile coming into the day -

Higher time frames:
SPY

ES with globex

ES with globex intraday

Tue 05_07

HIgher time frame, watching potential momentum roll-over

ES with Globex

Higher time frame ES with globex

Mon 05_06

A key for the above (5-min) chart to define the horizontal lines and dots.  For further explanation, see this link:  

Volume profile coming into the day.  Though Friday was a momentum day, it wasn't a trend day, more of a "Normal" day type (Wide IB with IB High/Low retained.

 

Higher time frame - looking for the 3/10macd fast line and slow line to catch up with one another (on the 65min) for any further long considerations.

ES with Globex and long entries considerations

Mon 04_29

A key for the above (5-min) chart to define the horizontal lines and dots.  For further explanation, see this link:  

First hour:

Breadth - started out pretty strong in the morning, rermaind so throughout the day

Volume profile coming into the day

The weekly SPY has been showing this divergence for some time now (similar to the "overbought can remain so for a long time" a divergence can see price continue to go contrary to the divergent signal).  The daily is clearly showing a cycle environment.  While it could be a topping pattern a move out of this INX 1600 ceiling on momentum should result in a measured move higher.  So far the SPY is in a double-top with potential for a complex Head & Shoulders pattern.  Wednesday is May 1 (sell in May cliche) AND a Fed day FYI