today's trade
A key for the above chart to define the horizontal lines and dots. For further explanation, see this link:
Fairly frustrating day. Didn't take any trades until 1pm. As it would turn out, frustration can be patience in disguise.
The higher time frame (65m) looks like it may be setting up to go higher? Provided we get above/hold $152.25 we may get another impulse move higher. This would "re-set" the faster time frame (15m) 3/10 macd back to a bullish bias (3a to 1a). Essentially we would be anticipating the 65m fast line to turn green and to trade that anticipation we would be looking for the 15m to turn 3a OR a pullback of the fast line into the positive sloping slow line (so it would be something like 3a to 1a to 1b and back to 1a).
Look at how ridiculous the $151.75 support held, it's the definition of "underlying bid". Two days left in Options Expiration week, it can always get freaky.
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