alleytrader

alleytrader Updated 

Overnight is 95% short however balancing in a smaller range Prior day high and overnight high is same numbers so watch that area for possible rejection. Will be one more time leaning to the inside trade until it impulsively breaks out and forms a distribution.

alleytrader

Thursday had a strong up move and kept going in the non regular session. This looks like higher price acceptance but sideways balance. will be looking to see if a revisit to the Thursday range, chop, or a break higher. The open will help me pick my side but will be watching close using the Friday and overnight range as my guard rails.

alleytrader

Overnight likes the higher prices and is double distribution long if we can clear over yesterdays high will look at 3995 as new target. a small break above 3984 that moves back down to 3960 is also a action will be looking for.

alleytrader Updated 

Today has a balanced small rang overnight session and will be using this range to see if a direction can be established for the day. It is a 18 point range so wide enough for some inside long and shorts. opening action will tell me a lot about how I will proceed. Will keep you posted.

alleytrader Updated 

Today looking at the range of 3931 to 3968. I will remain flexible and trade the inside of this range unless the market breaks out. Above looking at 3984 if move below will look for targets then. The 3960 area looks like the spot where the most action will happen if we go very choppy.

alleytrader

Looking for action at or near these lines until then today do not have much to say

alleytrader Updated 

Overnight is balanced and expanding so looking like a day to trade inside but wait for the highs and lows to confirm. A move back below 3890 should see a move back down at least to 3855 Higher move above overnight high look for 2930

alleytrader Updated 

Move is down, and will be leaning that way. will need a strong bounce to reverse that idea. I was sure i posted the target of 3847 some time back but can not find it so maybe did not. Will look for bounce or continuation, if we continue next support i have is 3753 so be careful.

alleytrader Updated 

Looking like one more day of range trading inside the big distribution. So long bottoms and short tops, only thing that changes that is a solid break of the distribution.

alleytrader Updated 

Quad witching day so this is normally a choppy day. Friday is not a day to press hard. The prior day low is just above the lower distribution placing it at the bottom of a massive balancing range. This range is more pronounced in nasdaq. Will be looking to see if buyers are ready to step in and support this area if not we move into the lower distribution, next...

alleytrader

Market is testing the distribution, and even with the big overnight down move no conclusion to direction is established. The same bottom level of yesterday is in play at 2924 however the top level is a long ways up at overnight high. My primary idea until one of the two sides are violated will trade this range back and forth. The top of this play can also be gap close.

alleytrader Updated 

Overnight is soft but in the upper boundaries. Will look for a test of 3925 at this level looking for more indication from that point. 3954 is the upper boundary keeping me sideways or bearish if remaining below that level.

alleytrader

Bullish overnight but tiny range. biggest range came in the Nasdaq overnight, and was mostly bullish. Will look for impulsive breaking above overnight top range. move below 3946 would take us back to prior day 3926

alleytrader

Leaning bullish unless middle blue line is broke, then will target lower blue line. Opening idea will be trade of impulse up or a open move down to middle blue line for a long. Simple plan for the day.

alleytrader Updated 

Overnight is balanced but below yesterday's value range. I will be watching the overnight range to see if a test of prior days high or prior days low is going to be in play. Any move past these test levels is a strong indicator of the day move to the other side of a multi days range. Opening action will tell me lots about the possible unbalancing trade. The values...

alleytrader

Overnight is balanced leaning bullish based on prior day range. yesterday's high and low are the boundaries I will be watching to to help find bigger direction, Primary idea will be to look for shorts at 3880 area and longs from either 3825 or 3815

alleytrader Updated 

Overnight it was balanced until the employment report and has now gone bullish Moving the indices into prior day upper distribution. We may have to look back one day to get to the upper target range after breaking above 3810. A good open will be a move back down to 3770 for a nice long, however this needs to be watched closely for failure at that level. Also a...

alleytrader Updated 

Yesterday closed on the low and then overnight traded almost completely below the close Unless we get above 3832 this market remains short. watch 3775 as support ( a target I had from days ago) and 3832 as Resistance. Inside these numbers I remain neutral for the day.