Yellow Light Warning

No trades today.  We will close above the pp for today.  We are just bouncing back and forth this week.  One of the worst week in the market this year.  Our rules are working great.  Keeping us out of a sideways market.

Broke the 61.8 on the 15, so we are just going sideways.

This is what a bounce looks like on the 1600 Tick chart.  The bounce lower failed because the bottom indicator kept us from going short.  The yellow line never went below the 80 (Red Horizontal Line).  Yet the Blue/Red line went to the bottom and bounced up and went through the PP for the day.  Then it back tested that line again 3 times and moved higher.  If we had had two day close above the PP we could have taken this higher. Stop would be placed at 175.73 for the day.

Monday is a holiday and Tuesday and Wednesday I will be out of the office.  See you Thursday.