I've been looking around through multiple watchlists and I'm really surprised that virtually nothing is standing out as a potential short term trade. There are plenty of positions that would be great to short in to with a bounce, tons of those, but for a bounce, not much at all.
The closest thing I even see to a bounce is an intraday 1 min positive in ES.
ES 1 min positive divergence building
However, take FSLR as a bounce candidate which is probably one of the better looking ones right now.
The 5 min chart is what makes it a nice looking bounce candidate and as it has created a very clear support zone, we know where a head fake move would be to hit the stops which is exactly what happened this morning.
However the 1 min chart doesn't look like FSLR is ready to enter since the decline below support at all, it looks like it could be, but
it looks like it needs more of a reversal process before that happens which may happen in several more hours, or...
However as of right now, there's almost nothing I'd be interested in from a risk:reward standpoint, so we just keep watching.
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