10:33am: Woke up at my normal time this morning and was not feeling well. Ended up getting sick and going back to sleep for a while. I am now back and I am watching to get into a trade. As you can see we are hitting yesterdays lows (the thick dark red line). You can clearly see that before NY opened we were clearly below the pivot (orange dotted line) and we paused briefly at yesterdays pivot (Cyan line) before opening. That 848 ON level would have been great to sell had I been awake, anyway let's see if yesterdays low can hold us at the 822 area.
11:00am: Here is the market profile chart for the day.
11:30am: Taking a look at the internals we can see the $VOLSPDC is virtually all red..this is a great indicator on trending days...it will continue in the direction of the trend even when the price moves counter trend...telling you that the counter trend move is one to sell or buy. Also, as pointed out by a member of www.eminiaddict.com, there seems to be a 0 $TICK selling program that is making it impossible, thus far, for the bulls to gain any traction. Unless we see breadth and $BANKX improve as well as participation in the $TICK we should continue this slide. You can also see virtually every sector is in the red. Fridays low of 822.50 has now become resistance, if we can get back above that with some minutia we may get some sort of snap back rally.
Also remember that this week kicks off earnings season so be aware of what's in your portfolio and when do your companies report, if you own individual stock.
12:15pm: Watching high TICK breakout of range...could be signaling a reversal, $VOLSPDC looks interesting...let's see if it can change direction. By no means is this for sure the start of a reversal...could just be a pause...watching 825 for direction. That is 50% Fib for the day right now.
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