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Monday”s post-open ranging was sufficiently wide to catch several intraday reversal signals. And the signals had specific targets, enabling exits into them. But we”re still looking for wider intraday trending to develop soon.

One of the warning signs is compression, range bound action that doesn”t fail a trending attempt since it never tries. Monday”s internal inverted Head & Shoulders would qualify. It also qualified when the open”s high touched the recent “pivotal high,” i.e. the high prior to the actual high, which all but requires new highs.

But the trending session can”t start from within the prior day”s range. Monday”s buyers gained no traction for their effort, they were rewarded fully. So, extending higher Tuesday without delay should begin by gapping up, after trending up overnight. Similarly, gapping down Tuesday could trend down intraday, instead. More details are in the post-market Wrap recording:
https://roddavid10.mitel-nhwc.com/join/xmjmwzh

Links to the chaRTroom:
We”re testing a new solution Tuesday and Wednesday. One advantage over the current test subject is its static address (like ilinc) which will save you from awaiting login instructions every day. If it crashes while using it overnight, then we”ll switch back to Anymeeting in the morning.

New, XP-friendly: httpS://ithen.clickwebinar.com/if-then-chartroom
ilinc/Mitel: https://roddavid10.mitel-nhwc.com/join/bfyytsh