7:36am: market breadth looks quite strong.
the market wants to go higher while still congested under EMA 50.
In the longer time frame, the pullback is not over yet.
7:51am: crude oil is recovering a little bit.
At the moment, YM is weaker than ES and NQ.
8:02am: test today’s low, it should go lower. Now NDX should be weaker than SPX according to the market breadth.
8:12am: take a look at ESM9 2-h chart. The wave after (B) does not seems to be wave 1 of corrective wave C. Looking forward to more downside.
8:17am: temporary support is broken, more downside ahead.
8:20am: ES is going to break the ascending channel.
8:25am: a little bit of positive divergence on ES 5-m, XLF filled the gap. May bounce back up for a while? No trading against the trend.
8:55am: NDX is weak. The market is relaxing before making a new intraday low. Watch for potential breakout on ES 2-h.
9:10am: oil and dollar do not support the downside movement. Maybe the LOD is set?
9:17am: here is a high risk long entry. Note the positive divergence. Target: ema50.
9:55am: target reached. Oil is pullback slightly, dollar is falling. Look forward to further rally.
TICK > 1000, TRIN > 1, first time go over EMA 50, STO overbought, pullback! (TICK < 1000 TRIN < 1 bounce back) heard from laoda.
10:54am: it almost reached HOD and starts pulling back. Oil is also pulling back.
11:12: pay attention to financials, it’s moving. Big sell off is not ready yet.
11:37: oil is rising madly…again. Be careful, no short here.
12:24: dropping. Hopefully it could fall hard. I prefer small white candle or big red one.
EOD: small white candle. Intermediate term down almost confirmed.
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