Tuesday, October 21, 2014

Sharp Intraday Distribution Setting In

This is exactly why I don't trust these "V" bases, why I'd much rather see a "W" base.

Since the last update, take a look at the changes in the intraday charts, pretty sharp intraday distribution.

 IWM 1 min

QQQ 1 min, VERY SHARP!

SPY 1 min.

Ideally we'd see some sideways drift and some longer timeframe migration which would make for a great short entry. Right now, I'm holding back and looking to see what this is going to do, but that is sharp distribution, how far it goes and how fast will determine if it's tradable and how.

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