TakeProfitTrader

02:40

TakeProfitTrader

Good morning traders, Little late this morning, so I'll get these right over to you...

01:44

TakeProfitTrader

Morning traders, Volume continues to build lower, and I still expect another leg down, even if we have short term "strength" overnight.

03:39

TakeProfitTrader

Good morning traders, Yesterday did not go as planned. I would have expected the buyers to fight more at 3860 than they did. It leaves us down near the lows and a market that is accepting prices lower. I will not get involved at these prices, as I think the market will try lower first if it's going to rally, and vice versa. IMO you must give an edge to the...

02:26

TakeProfitTrader

Good morning traders, Market closed on the highs yesterday, just to sell overnight. This brings us right back to the area at 4000, which I think will act as support today. If you're a buyer, I dont' think you want to see this market below 3960, as I think that is the area where a bigger selloff is possible. Im playing today as if it's a back and forth, day...

04:35

TakeProfitTrader

Good morning Traders, Market came to one of my over/under lines, around 4080 overnight. We have quite a bit of strength in the overnight session, and I think that will ultimately take us higher off the open. I do expect to see a bit of a fight from the sellers, but I think we go higher today as we try to push back towards 4300. I do not think we are out of...

03:05

TakeProfitTrader

Good morning traders, Yesterday played out pretty well, eventhough it looked like it was going to get ugly around 3pm eastern. We rallied into the close and have continued that rally overnight. With that said, I don't see any real reason to get excited about the longs here, yet. From here, I think it's more of a toss-up on immediate direction, but the longer...

04:46

TakeProfitTrader

Good morning traders, Continues to be more downside pressure, after another red hot CPI number yesterday scared investors. I would expect the market to get tangled up here, but something tells me we are not done yet. The question is, do we take a breather today, or do we continue the selloff at the opening bell. I'm leaning towards a more neutral day...

02:50

TakeProfitTrader

Good morning Traders, Market continues to have trouble holding onto higher prices, and we are now threatening another leg down to 3966 area. We are hanging out below the -2 standard deviation on the month, which is troubling for this market. We may get a temporary rally towards VWAP, but I would expect it to to continue lower and run into that 3966 area eventually.

03:59

TakeProfitTrader

Good morning traders, Starting to build out a new "balance" below our previous one. This is good news for the sellers. The good news for the buyers is we are at the lows of that "balance." I think this will create a sort of tug of war down here around 4100 today, and I can see this market whipping both ways, and end up going nowhere.

03:36

TakeProfitTrader

Morning Traders, FED 50 basis point rate hike sent the market higher, mainly (i think) because they said a 75 basis point rate hike was off the table. Either way, we are back at 4300, which continues to be strong resistance above. I'd expect that to continue until we can get above 4300 and HOLD. I will still lean short until then.

02:21

TakeProfitTrader

Good morning traders, Big FOMC Statement looming today. I would expect a non-committal type of market today, until after the statement is released at 2pm eastern time. That usually means a sideways market, with a slight edge to risk off (down). If the FED makes a Statement about 50 basis points rate hike, I think it would be better to not trade, as it will...

02:19

TakeProfitTrader

Morning Traders, Not much has changed, I would still give the edge to the sellers, with an intermediate resistance of 4215, then the big one at 4280-4300. To me, the path of least resistance continues to be lower, but FOMC tomorrow could change that depending on the rate hike.

02:15

TakeProfitTrader

Good morning traders, We continue to build out volume in the area below our big balance area. THis is a good sign if you're a seller, and you're looking for more down. Also, we don't have a whole lot of trading in this area, so continued selliing will likely take us towards 3960 area, which is a couple hundred points away. I would like to see the market take...

02:36

TakeProfitTrader

Morning Traders! Late to the party today, as the market is already open. Therefore, I will not make a lengthy write up. Hope you enjoy the video.

02:30

TakeProfitTrader

Good morning traders, Market continues to auction pretty well here. It seems like it wants to come back and test 4300 area again. Watch today to see if we continue to build volume lower. Keep extending your profile out as the day progresses. This will tell you if the market is accepting these lower prices. The more volume below the previous value area (the...

04:06

TakeProfitTrader

Good morning traders, Having trouble uploading today for whatever reason.

05:00

TakeProfitTrader

Good morning traders, I will keep the writeup short today, as I think it's a must watch video if you're struggling.

02:48

TakeProfitTrader

Morning Traders, The move down yesterday is your normal chop in these wide balance areas. I have said the same thing everyday this week and it comes down to this: I don't think there is an edge in the market when we are stuck in the middle of balance. As soon as you get fascinated with a direction, the market turns around and goes the other way. This is CHOP...