Short Term Trading Weekend Lounge: 9 - 11 July, page-30

Thank you @hazyg. Gee I better be careful how I report.  The liquidation you saw yesterday was in view and not unexpected, but because I have not been fully engaged -- you know, sitting there every minute of the day checking all related things - I didn't feel able to comment, but would have if it kept going.  I would pop in to check the market breadth, which opened about as low as it can go, but there was no specific news I could see.  Then we got the fight back and internals recovered somewhat…followed by the overnight recovery and you can see where we are now.  Still, I should have posted charts of the naked points of control that I refer to.  Highly irresponsible, I know.   If I am not actively trading, I feel like I'm just mouthing the words.  That said, it did look like that thing that happens when too many people get on one side of a trade, and we see a string of higher highs on poor structure with no back and fill.  We took out two untested high-volume points of control at 4301 and 4284.25 yesterday, before moving back up overnight to leave a small gap from yesterday's high of 4322.75.  You can see now we are back to the highs.  I will have to get under the bonnet this weekend and see if I can make sense of things.

Hah I will try to think of some examples, @golden6.  It is a challenge for me and there are plenty of examples to cite.

Thanks for your input, @20521, love to hear of a system that works.  How did you go with that short you mentioned a while ago?  I saw they gave you an opportunity the next day.  

Ah yeah @struggling1, so you are shifting gears then.  I will check out that stock you mention.  I have been checking out the charts that people post here more and more. It's a great break from the futures sometimes.