Intra-Day Action – 21 January 2016

Part of my end of day routine is to analyze the intra-day action of the S&P 500.

Basically I like to print an intra-day chart of the SPY or $SPX and mark up areas and candle patterns. I also like to make note of when reversals and or continuations occur. Adding market internals such as the NYSE TICK and TRIN adds clarity throughout the day.

Make a note: Wild swings in TICK is an indecisive market and most setups will fail as the market tries to resolve itself. The TRIN offered some clues as it was at a bullish level but was trending lower since lunch.

16-01-21_eod-spy

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About the Author Dave Gagne

Founder of MarketInsidersClub.com. President and CEO Dynamic Wealth Financial Inc. Author of Trading Master Plan Subscribe to the MarketInsidersClub Youtube Page here

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