After last week's posts on Swing Trading and Commitment of Traders I hope today's range down day didn't take you by surprise.
Volume Patterns: Low Volume Pullbacks (Emini Daily)
Once again, Low Volume Patterns helped show the lack of demand. Two weeks ago the 950 high was made with 2 consecutive Low Volume Pattern up days – Thursday 11 and Friday 12 June. This led to a sell-off on the Monday.
Last week, we again had 2 consecutive Low Volume Pattern up days – Thursday 18 and Friday 19 June. And another Monday sell-off today.
Hilbert Sine Wave: End of Trend Signal (Emini 2,097 tick)
Range days, like we had today, look so easy to trade. But it fact having the discipline to catch the whole move is really tough. I posted about this last April and how I visualize Tom Cruise in "Days of Thunder". The highest probability trade is to go with the trend and hold 'till the close. You can read the Tom Cruise post here.
Good luck with your Emini trading.
