Really kinda screwed-up the early morning through late afternoon trade...didn't take positions short as indicated by the "x" on the 5-min 3/10macd
Quite strong negative breadth today:
Market is taking out long positions entered at least back through January 25th. While the hourly chart is showing the 20- & 50-MA's converging and possibly crossing over, however, the Daily chart (bottom right) shows quite a strongly bullish orientation of those two moving averages and a pullback to the 20-MA would be eagerly awaited by bullish positions.
Anticipating 2c-2d criteria on the daily chart so I would be looking for a 3d (or possibly even 3a) type criteria on the 65-min chart before getting bullish.
Anticipating 2c-2d criteria on the daily chart so I would be looking for a 3d (or possibly even 3a) type criteria on the 65-min chart before getting bullish.
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