Today's market action was rather uneventful, however "lazy" days like today can often provide highly accurate and effective trading signals as a direct result of price immobility within narrow ranges. With a practical knowledge / understanding of technical analysis, one can utilize such signals to profitably scalp futures, stocks and ETFs with ease.
The following picture illustrates the two "gimme" trades that we discretionarily executed today as well as the logic and reasoning behind them.
-- Please click on the snapshot below to open a large, crystal-clear picture --
Disclosure: during any given session, we may trade any of these instruments bi-directionally. We are currently flat at the time of publishing.
For similar technical takes, market calls and insights; please visit our new website, www.fibozachi.com. There, you can view both our complete body of analytic work as well as detailed explanations of the unique design development and technical methodologies within the proprietary technical indicator packages that we use daily to perform a comprehensive technical analysis of stocks, options, ETFs, bonds, futures and FOREX across interval periods of time, tick and volume.