There was really nothing special about the first 10 or 25 minutes of the market to indicate a strong trend day. Volume was slightly below the 10-day average and the first 25 minute range was about average. It wasn't until 0955 ET that somebody pressed the buy button. Once the market traded convincingly above the previous highs, these highs acted as support, and away the market went.
I have noticed that the first 10-minute range is key, at least lately it has been. A break of this range lately indicates where the market may want to go for 30 minutes or so.
There is not much more to say about a strong trend day other than hopefully your positions were always in the direction of the trend.
Charles
Just wanted to say that as a frequent visitor & reader of this site, I enjoy the content and appreciate your time recording/sharing your thoughts.
ReplyDeleteThanks Joe.
ReplyDeleteCharles